• Home
  • Pro
  • Partners
  • Help and support
  • English (UK)
Pepperstone logo
Pepperstone logo
  • Ways to trade
    • Spread betting

      Bet on global price movements in £ per point

    • CFD trading

      Trade on 1000s of assets without owning them

    • Pricing

      Discover our tight spreads, plus all other possible fees

    • Risk management
    • Trading accounts
    • Trading hours
    • 24-hour trading
    • Maintenance schedule
  • Markets
    • Forex

      Get great rates on majors like EUR/USD, plus minors and exotics

    • Indices

      Enjoy 24-hour pricing on the UK100, US30 and more

    • Commodities

      Trade on metals, energies & softs, with oil spreads from 2 cents

    • Shares
    • ETFs
    • Currency indices
    • Dividends for index CFDs
    • Dividends for share CFDs
    • CFD forwards
  • Trading platforms
    • TradingView

      Trade through the world-famous supercharts with great pricing

    • MetaTrader 5

      Explore the apex in trading automation with our execution tech

    • The Pepperstone platform
    • MetaTrader 4
    • cTrader
    • Trading tools
  • Market analysis
    • Navigating markets

      Latest news and analysis from our experts

    • The Daily Fix

      Your regular round-up of key events

    • Meet the analysts

      Our global team giving your trading the edge

  • About us
    • Who we are

      Pepperstone was born from the dream of making trading better

    • Company news
    • Company awards
    • Protecting clients online
    • Spread betting

      Bet on global price movements in £ per point

    • CFD trading

      Trade on 1000s of assets without owning them

    • Pricing

      Discover our tight spreads, plus all other possible fees

    • Risk management
    • Trading accounts
    • Trading hours
    • 24-hour trading
    • Maintenance schedule
    • Forex

      Get great rates on majors like EUR/USD, plus minors and exotics

    • Indices

      Enjoy 24-hour pricing on the UK100, US30 and more

    • Commodities

      Trade on metals, energies & softs, with oil spreads from 2 cents

    • Shares
    • ETFs
    • Currency indices
    • Dividends for index CFDs
    • Dividends for share CFDs
    • CFD forwards
    • TradingView

      Trade through the world-famous supercharts with great pricing

    • MetaTrader 5

      Explore the apex in trading automation with our execution tech

    • The Pepperstone platform
    • MetaTrader 4
    • cTrader
    • Trading tools
    • Navigating markets

      Latest news and analysis from our experts

    • The Daily Fix

      Your regular round-up of key events

    • Meet the analysts

      Our global team giving your trading the edge

    • Who we are

      Pepperstone was born from the dream of making trading better

    • Company news
    • Company awards
    • Protecting clients online
Equities

Q2 25 US Bank Earnings Preview: By The Numbers

Michael Brown
Michael Brown
Senior Research Strategist
9 Jul 2025
Share
Q2 US earnings season will soon be underway, with the major Wall Street banks, as usual, getting things underway.

JPMorgan Chase (JPM, 11:45am BST/6:45am ET, 15 July)

JPM trades approximately 18% higher YTD, outperforming not only within the Financials sector, but also the S&P 500 at large. The stock stands as the 11th largest weighting in the benchmark, while also being a Dow constituent. Options tied to the stock price a move of +/-3.6% in the 24 hours following the upcoming earnings release, with JPM having ended the day in the green following the last three quarterly reports in a row. This time out, consensus expects adj. EPS at $4.47, on revenues of $44.1bln.

Preview

Wells Fargo (WFC, 12pm BST/7am ET, 15 July)

Wells have advanced just over 15% this year, having been buoyed recently by news that the $1.95tln asset cap imposed by the Federal Reserve has finally been lifted, after seven years. That performance, in any case, also sees WFC outperforming both Financials sector, and the benchmark S&P 500, with the stock being the 31st largest member of the index. Derivatives imply a move of +/-4.2% after the upcoming earnings print, though the stock has ended in the red following four of the last six reports. For Q2 25, the Street expects adj. EPS at $1.40, on revenues of $20.7bln.

Preview

Citigroup (C, 1pm BST/8am ET, 15 July)

Citi trade around 22% higher YTD, tied with GS for the best performing bank stock in 2025, and vastly outperforming the benchmark S&P 500, though only has a relatively modest 0.3% weighting in the index. Options on Citi price a move of around +/-3.7% on reporting day, with the stock having ended the day in the green for 2 quarters in a row, post-earnings. For the upcoming report, consensus expects adj. EPS of $1.61, on revenues of $20.9bln.

Preview

Bank of America (BAC, 11:45am BST/6:45am ET, 16 July)

BAC comes into Q2 earnings trading just 7% higher YTD, not only lagging peers, but also underperforming the S&P 500, within which it stands as the 23rd largest constituent. BAC derivatives imply a move of +/-3.6% in the 24 hours following the upcoming earnings release, with recent pedigree having been rather mixed, with 3 gains and 3 losses following the last 6 reports. In Q2 25, expectations point to adj. EPS of $0.85, on revenues of $26.7bln.

Preview

Goldman Sachs (GS, 12:30pm BST/7:30am ET, 16 July)
Goldman have gained about 22% so far in 2025, tied with Citi for the best performing bank stock YTD. In terms of index weightings, Goldman stands as the 43rd largest stock in the S&P 500, but also sits as the largest stock in the Dow, with a sizeable 9.7% weight in the latter. Options on GS price a move of +/-3.5% in the day following the earnings print, with the stock having gained post-earnings following 5 of the last 6 reports. For the upcoming release, participants expect adj. EPS of $9.69, on net revenues of $13.5bln.

Preview

Morgan Stanley (MS, 12:30pm BST/7:30am ET, 16 July)

Morgan Stanley sit around 12% higher so far this year, marginally outperforming the Financials sector, but lagging most peers. That said, MS are outperforming the benchmark S&P 500, while standing as the 37th largest stock in the index. Options contracts imply a move of +/-3.9% over the upcoming release, with markets having cheered recent earnings, seeing the stock rally following the last five quarterly reports running. In Q2 25, consensus expects adj. EPS at $1.97, on revenues of just over $16bln.

Preview

Note – all figures in this article are correct as of 9th July 2025; past performance is not a reliable indicator of future results

The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research we will not seek to take any advantage before providing it to our clients.

Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.

Other Sites

  • The Trade Off
  • Partners
  • Group
  • Careers

Ways to trade

  • Pricing
  • Trading accounts
  • Pro
  • Trading hours

Platforms

  • Trading Platforms
  • Trading tools

Markets and Symbols

  • Forex
  • Shares
  • ETFs
  • Indicies
  • Commodities
  • Currency indicies
  • CFD forwards

Analysis

  • Navigating Markets
  • The Daily Fix
  • Meet Our Analysts

Learn to trade

  • Trading guides
  • Videos
  • Webinars
Pepperstone logo
support@pepperstone.com
+448000465473+442038074724
70 Gracechurch St
London EC3V 0HR
United Kingdom
  • Legal documents
  • Privacy policy
  • Website terms and conditions
  • Cookie policy
  • Sitemap

© 2025 Pepperstone Limited 
Company Number 08965105 | Financial Conduct Authority Firm Registration Number 684312

Risk warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Trading derivatives is risky. It isn't suitable for everyone and, in the case of Professional clients, you could lose substantially more than your initial investment. You don't own or have rights in the underlying assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your or your client's personal objectives, financial circumstances, or needs. Please read our legal documents and ensure you fully understand the risks before you make any trading decisions. We encourage you to seek independent advice.

Pepperstone Limited is a limited company registered in England & Wales under Company Number 08965105 and is authorised and regulated by the Financial Conduct Authority (Registration Number 684312). Registered office: 70 Gracechurch Street, London EC3V 0HR, United Kingdom.

The information on this site is not intended for residents of Belgium or the United States, or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.