Matt Mawson/Getty Images
- This post originally appeared in the Business Insider Today newsletter.
- You can sign up for Business Insider's daily newsletter here.
Do you enjoy sorting through numbers and executives answering questions with lots of spin? If so, you're in for a treat.
Earnings season is back, and the big banks kick things off. JPMorgan leads the way on Tuesday, followed by Bank of America and Citi on Wednesday. Goldman Sachs and Morgan Stanley bring us home on Thursday.
BI's Reed Alexander previews the four biggest things to watch from Wall Street this earnings season. From dealmaking's rebound to credit risks to AI (of course), there's a lot to unpack this week.
Banks are a valuable group to open with. Their lending and dealmaking capabilities, coupled with their deep ties to consumers, put them at the epicenter of the business world. Their earnings reports are as much about themselves as the wider economy.
January earnings are also unique since they include a year-end recap. And what a year 2025 was …
A volatile first half was followed by stocks (including banks) hitting record highs by year-end despite ongoing talk of an AI bubble. Bank executives are likely to discuss maintaining that strong momentum in 2026.
There's also a wild card to consider this earnings season.
President Donald Trump has made it clear he's on a mission to address affordability, and sometimes that includes targeting specific companies.
Last week, Trump issued warnings against the defense sector and institutional investors in the residential housing market. While the threats lacked specific details, they were strong enough to catch investors' attention.
Trump also said he'd be talking more about affordability in the coming weeks, including during his speech next week at Davos.
That could be a net positive for banks. A healthy consumer is typically good for them. But with no clarity on how Trump might approach improving affordability, it's tough to say.
Meanwhile, other industries will need to remain on their toes in case they're the next target on Trump's affordability crusade. And even if they feel like the problem Trump is addressing isn't necessarily applicable to them, the market might not care anyway.