Daily Pulse · · 09:30 CET · 5 min read · market · TSM
In this edition
Pattern alerts
- JPM bank-earnings-tue-13-oct-credit-and-interest-income WARNING
- TSM tsmc-15-oct-q4-outlook-capacity-ai-demand WARNING
- ASML asml-14-oct-2027-orders-no-quarterly-bookings WARNING
This week the companies report, and two questions matter more than the headline numbers. How strong is business outside technology? And do the chipmakers confirm the AI build-out that the market is still pricing for 2027? The banks answer the first question from Tuesday. ASML on Wednesday and TSMC on Thursday answer the second.
Expectations are high going in. FactSet's analysts expect S&P 500 earnings to grow 29.6% from a year earlier in the third quarter, up from 26.7% at the end of June — and the final figure usually ends up several points higher once companies have reported. For all of 2027 they expect growth of 15.8%, after 32.4% in 2026 (as reported by Forbes, citing FactSet). That is the number this season has to defend.
The dates in our selection
Table as text
| Date | Company | Street expects (as reported) | What we watch |
|---|---|---|---|
| Tue 13 Oct, before the open | JPMorgan Chase | EPS about $5.93, revenue about $51.2bn | Loan losses, interest income, trading and deal fees |
| Tue 13 Oct, before the open | Goldman Sachs | EPS $13.89–15.39 (sources differ), revenue $16.9–17.4bn | Trading and investment banking after a record second quarter |
| Wed 14 Oct, before the open | ASML | Revenue about €11.6bn, gross margin about 55.7% | What it says about 2027 orders and its customers' spending plans |
| Wed 14 Oct, before the open | Bank of America | EPS about $1.16, revenue about $30.9bn | Loan demand and interest margins |
| Thu 15 Oct | TSMC | Revenue about $45.6–45.8bn (guided $44.6–45.8bn) | Fourth-quarter outlook, margins, AI demand, new capacity |
Consensus figures from earnings previews (MarketBeat, AlphaStreet, Zacks, Benzinga, Hudson Labs); estimates vary by source. Company guidance from the second-quarter reports.
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