Oct 11, 2026 · 9 min
Bank earnings test trading strength against consumer weakness
Week Ahead: JPMorgan Chase, Goldman Sachs, and Bank of America
Third-quarter results will show whether market activity can offset softer consumer demand and higher-rate pressure across major U.S. banks.
- 1JPMorgan Chase is positioned to set the tone as trading and investment-banking activity shape the opening of bank earnings season.
- 2Goldman Sachs may benefit from strong equities trading, but delayed IPOs and higher expenses could complicate its outlook.
- 3Bank of America faces a sharper mix of softer activity, uneven loan growth, consumer weakness, and mortgage and card-rate pressure.
Don't miss
Herman Chan’s Bank of America assessment brings together softer market activity, loan growth, consumer weakness, and higher-rate pressure.
The brief
Nathan Hager and Bloomberg Intelligence analyst Herman Chan preview third-quarter results at JPMorgan Chase, Goldman Sachs, and Bank of America as bank earnings season begins.
JPMorgan Chase is expected to set the tone, with trading and investment-banking growth, market volatility, and its leadership position at the center of the discussion.
Goldman Sachs could post strong equities-trading results, but higher expenses and delayed high-profile IPOs create a potential counterweight to future deal hopes.
Bank of America’s outlook turns on softer trading and investment-banking activity, expected loan growth, commercial lending, consumer weakness, and higher-rate pressure on mortgages and cards.
A separate Economy of Scale segment shifts from bank balance sheets to AI-enabled smart cities, examining Dubai’s urban expansion and long-term planning.
Books & mentions
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