First-quarter 2026 earnings season opens this week, and the stakes are unusually high.
This is the first reporting cycle since the U.S.-Iran war began reshaping oil markets, supply chains and the inflation outlook — meaning every management team stepping to the podium faces the same question from investors: what did the conflict cost you in the first quarter, and what does it mean for the rest of the year?
Banks dominate the calendar.
JPMorgan Chase & Co. (NYSE:JPM) fires the starting gun Tuesday alongside Citigroup Inc. (NYSE:C) and BlackRock Inc. (NYSE:BLK), Bank of America Corp. (NYSE:BAC) and Morgan Stanley (NYSE:MS) follow on Wednesday.
For the banking sector, the narrative will center on three fault lines: whether the surge in energy prices and inflation is cooling loan demand from consumers and businesses and whether wider credit spreads are quietly building stress in private credit and leveraged lending books that haven’t yet shown up in reported numbers.
The semiconductor world gets its first major checkpoint when ASML Holding N.V. (NASDAQ:ASML) reports on Wednesday, and Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) on Thursday, whose results will either confirm or crack the thesis that AI hardware demand is insulated from the macro deterioration hitting digital services and IT outsourcing.
Netflix Inc. (NYSE:NFLX) also reports results on Thursday.
Top 10 Stocks By Implied Move On Earnings This Week
According to data from Benzinga Pro, options markets are pricing single-digit to nearly 30% post-earnings swings across 10 companies with market capitalizations above $10 billion reporting this week.
Implied moves measure the size of the price swing — up or down — that the options market expects, based on at-the-money straddle pricing ahead of the earnings date. A 10% implied move means the options market is pricing an equal probability of a 10% gain or a 10% loss in response to results.
Here is where each name stands heading into results:
10) Charles Schwab Corp. (NYSE: