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US EARNINGS SEASON OFF TO A MIXED START
The latest earnings season got off to a somewhat mixed start on Tuesday, with shares of JPMorgan Chase JPM.N down more than 3.5% in early afternoon trading even as it reported a quarterly profit that exceeded expectations.
Shares of BNY BK.N, which reported a rise in fourth-quarter profit and raised the target for a key profitability measure, are higher by about 0.5%.
At the same time, shares of Delta Air Lines DAL.N are down just over 2% after the mid-point of the carrier's 2026 profit forecast fell short of analysts' expectations. This is dragging down other airline shares .XAL.
Other financials are mostly lower, with the S&P 500 financial index .SPSY down 1.7% and the S&P 500 banks index .SPXBK down 2%. Financials is the weakest S&P 500 .SPX sector on the day.
Citigroup C.N, Bank of America BAC.N and Wells Fargo WFC.N are all lower, and are due to report quarterly results on Wednesday.
Heading into the earnings season, earnings growth for Q4 is estimated to be down from the previous quarter.
Analysts saw earnings growth for the fourth quarter for S&P 500 companies overall of 8.8% year-over-year, down from 14.9% in the third quarter, according to LSEG data as of Friday. Earnings growth for the financial sector was seen at 6.8%, down from 25% in the third quarter of 2025, based on the data.
(Caroline Valetkevitch)
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