S&P 500 futures are broadly flat as investors prepare for earnings reports from major banks and new inflation data. The releases will provide an early test of corporate performance and the market's economic outlook.
8:00 PMCNBC8 stories from 4 sources
Markets weigh bank earnings as AI drives growth
Day’s Recap
Supporting Articles
Major US banks enter third-quarter earnings season with strong credit quality, but higher interest rates, weaker investment banking activity and exposure to AI financing remain concerns. Wealth management may support results at firms such as Morgan Stanley and JPMorgan, while investors will also track credit trends and executive succession plans.
11:20 AMBloomberg MarketsThe largest U.S. banks will report third-quarter results this week, providing an early read on conditions across financial markets and the broader economy.
7:46 AMCNBC
Analysts expect S&P 500 earnings to rise about 31% in the third quarter, with artificial intelligence companies providing much of the growth. Investors remain optimistic about AI's earnings power but are questioning whether the surge can last.
6:13 PMPYMNTS
Trump's tariffs have contributed to factory closures and layoffs, angering some longtime Republican voters who expected protectionist policies to restore U.S. jobs. At least one affected voter says he plans to vote for Democrats in the midterms.
10:16 AMFortune8:00 PMCNBC
S&P 500 is little changed to start the week; Micron leads tech lower: Live updates
Summary
S&P 500 futures are broadly flat as investors prepare for earnings reports from major banks and new inflation data. The releases will provide an early test of corporate performance and the market's economic outlook.
Bank earnings and inflation data will determine whether recent market strength can hold. Strong financial
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The market's next direction depends on whether earnings strength can outweigh renewed concerns about inflation and interest rates.
11:20 AMBloomberg Markets
Big Banks Face Test as Earnings Season Begins
Summary
Major US banks enter third-quarter earnings season with strong credit quality, but higher interest rates, weaker investment banking activity and exposure to AI financing remain concerns. Wealth management may support results at firms such as Morgan Stanley and JPMorgan, while investors will also track credit trends and executive succession plans.
The key test is whether banks can preserve earnings strength as rate pressure and softer
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Bank results will signal whether higher rates and AI-linked risks are starting to undermine the broader market's earnings outlook.
7:46 AMCNBC
JPMorgan Chase, Goldman and other big banks report earnings this week. What to expect
Summary
The largest U.S. banks will report third-quarter results this week, providing an early read on conditions across financial markets and the broader economy.
Bank earnings will show whether trading activity, lending demand and credit quality are supporting profits
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Big-bank results often set market expectations for the rest of earnings season and reveal emerging pressure in the economy.
6:13 PMPYMNTS
AI Companies Expected to Drive 31% Uptick in Q3 Earnings
Summary
Analysts expect S&P 500 earnings to rise about 31% in the third quarter, with artificial intelligence companies providing much of the growth. Investors remain optimistic about AI's earnings power but are questioning whether the surge can last.
AI has become a central driver of projected corporate profit growth, raising the stakes for
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The market increasingly depends on AI to deliver both earnings growth and justification for current valuations.
10:16 AMFortune
Trump’s tariffs forced U.S. factories to close down or lay off workers, and longtime GOP voters are revolting—’It was like taking a knife to the back’
Summary
Trump's tariffs have contributed to factory closures and layoffs, angering some longtime Republican voters who expected protectionist policies to restore U.S. jobs. At least one affected voter says he plans to vote for Democrats in the midterms.
The decisive change is that tariff costs are reaching the industrial workers and communities the
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Tariff-driven economic pain could weaken Trump's support among the industrial voters central to the Republican coalition.
Other Developments
A curated list of other prominent stories from this day.
Software developer job postings are recovering, with demand concentrated among senior engineers and workers with AI expertise. At the same time, entry-level hiring is weakening as AI handles more routine coding tasks.
9:30 AMCNBCFord, JPMorgan and Michigan are forming a partnership to connect manufacturers and startups with financing, customers and public support. Ford will commit $1 billion in purchasing to companies developing advanced manufacturing, magnets and rare earth capabilities, while JPMorgan will provide lending through its security and resiliency efforts.
8:03 AMBloomberg Markets
The research projects that the U.S. economy will have more jobs in 2035 than it does today, even as AI and automation reshape the mix of occupations. It estimates that roughly 11 million workers will need support moving into new roles over the decade.
7:00 AMFortune9:30 AMCNBC
AI is automating coding. So why are software developer job postings on the rise?
Summary
Software developer job postings are recovering, with demand concentrated among senior engineers and workers with AI expertise. At the same time, entry-level hiring is weakening as AI handles more routine coding tasks.
The rebound reflects a redistribution of demand, not a reversal of AI’s impact on hiring.
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI may expand software hiring while reducing the entry-level opportunities that traditionally built the talent pipeline.
8:03 AMBloomberg Markets
Exclusive: Dimon, Farley, Gov. Whitmer on Rebuilding American Manufacturing
Summary
Ford, JPMorgan and Michigan are forming a partnership to connect manufacturers and startups with financing, customers and public support. Ford will commit $1 billion in purchasing to companies developing advanced manufacturing, magnets and rare earth capabilities, while JPMorgan will provide lending through its security and resiliency efforts.
The partnership shifts supply-chain rebuilding from a policy goal toward coordinated private-sector demand and financing.
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Reindustrialization will require guaranteed customers and capital, not just tariffs or subsidies.
7:00 AMFortune
McKinsey research shows AI creating more jobs than automation displaces — but 11 million American workers will need help this decade
Summary
The research projects that the U.S. economy will have more jobs in 2035 than it does today, even as AI and automation reshape the mix of occupations. It estimates that roughly 11 million workers will need support moving into new roles over the decade.
Positive net job growth will not prevent severe disruption for workers whose occupations shrink or
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI's labor impact will be measured less by total jobs than by whether workers can move into the jobs it creates.
Make it yours
Build Your First Pass.
Pick your topics, set your cadence, and receive your personalized First Pass in your inbox. It’s that simple!