Big Banks Gear Up to Report Q3 Earnings

Market Overview - Pre-market futures are up but on a downward trajectory, following new all-time-high closes for the S&P 500 and Nasdaq, with market participants purging some positions [1] - The current bull market has lasted three years, significantly driven by NVIDIA, which has seen a 1500% increase, alongside other major players like Broadcom (+650%), Meta (+450%), and Alphabet (+150%) [3] Upcoming Earnings Reports - Major banks including JPMorgan, Citigroup, Wells Fargo, and Goldman Sachs are set to report earnings next week, which will represent a significant portion of the S&P market cap [2] - Other companies such as Johnson & Johnson and Domino's Pizza will also release earnings on the same day [2] Consumer Sentiment and Economic Indicators - A preliminary Consumer Sentiment survey from the University of Michigan is expected to show a decline to 53.5 in October from 55.1 in September, indicating ongoing consumer uncertainty [4] - Inflation expectations among consumers have slightly decreased, suggesting that the impact of tariffs may not be as severe as previously thought [5] Government Budget and Economic Data - Monthly U.S. Federal Budget figures for September will not be released due to the ongoing federal government shutdown, which is affecting the availability of key economic data such as CPI and PPI [6]