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Big banks and tech names kick off earnings season this week. (0:17) Trump orders U.S. to block Strait of Hormuz shipping traffic. (1:13) Fed Beige Book and speakers guide rate outlook this week. (2:00)
The following is an abridged transcript:
It’s that time again when “per share” echoes across Wall Street.
Earnings season begins this week with the big banks, alongside a couple of major tech names.
Goldman Sachs (GS) kicks things off Monday. Tuesday brings JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C) and BlackRock (BLK). Bank of America (BAC) and Morgan Stanley (MS) follow Wednesday. Later in the week, results from Taiwan Semiconductor (TSM), Netflix (NFLX) and PepsiCo (PEP) will offer insight into global demand, tech spending and consumer trends.
Netflix reports Thursday, with analysts expecting EPS of $0.77 on revenue just above $12B.
With the Warner Bros. (WBD) acquisition saga behind it, focus has shifted back to core growth drivers: advertising, content and engagement. Ad revenue will hinge in part on traction in live sports, while the company’s recent subscription price increases will be closely watched for signals on pricing power and capital allocation.
Also on the calendar: Johnson & Johnson (JNJ) reports Tuesday and ASML (ASML) on Wednesday.
In geopolitics this weekend, President Donald Trump said the U.S. would move to block maritime traffic through the Strait of Hormuz after negotiations with Iran collapsed in Islamabad.
In a post, Trump said the Navy would begin efforts to stop vessels from entering or leaving the key shipping lane, framing the move as a response to escalating tensions.
The announcement followed the breakdown of marathon talks involving Vice President JD Vance and envoys Steve Witkoff and Jared Kushner, who spent nearly a full day negotiating with senior Iranian officials.
The discussions, brokered by Pakistan, were aimed at ending a six-week conflict but failed to produce an agreement, leaving a fragile ceasefire in doubt.
Iranian officials said U.S. demands were too steep, though the foreign ministry signaled further talks remain possible, noting that major disputes are unlikely to be resolved in a single round.
On the economic front, the Federal Reserve’s Beige Book on Wednesday will offer a fresh snapshot of economic conditions, while a steady lineup of Fed speakers could help shape rate expectations.
Wells Fargo economists highlight New York Fed President John Williams on Thursday and Governor Christopher Waller as the key voices to watch.
“We consider Williams a good proxy for the more academically minded members of the Fed,” they wrote. “He doesn’t usually shock markets, but his comments will be closely scrutinized for signals on a higher-for-longer stance versus the timing of potential cuts.”
“Waller, on the other hand, isn’t shy about changing his mind publicly,” they added. “He dissented in favor of a cut at the meeting prior to the most recent one and has emphasized data dependence — a willingness to hold rates if the data firm, while remaining opposed to hikes.”
And for income investors, Abbott Laboratories (ABT) and AbbVie (ABBV) go ex-dividend on Wednesday, with payouts scheduled for May 15.
Johnson Outdoors (JOUT) goes ex-dividend Thursday and pays out on April 30.
Acuity Brands (AYI) goes ex-dividend Friday, with a May Day payout.
