Four of Wall Street’s biggest banks report third-quarter results before the opening bell on Tuesday, and options traders are bracing for moves of roughly 3.7% to 5% in their stocks, according to Benzinga. But analysts do not agree on what the banks will earn. Estimates for Goldman Sachs alone range from $12.44 to $14.84 per share, a gap of about 19% by our calculation, which means whether Goldman “beats” may depend on which benchmark you use. This follows our earlier preview of the big banks' third-quarter earnings, which covered the consensus numbers and the yield backdrop. Analysts Don’t Agree on Goldman LSEG consensus puts third-quarter earnings at $5.94 per share for JPMorgan, $12.44 for Goldman Sachs, $2.41 for Citigroup and $1.85 for Wells Fargo, according to Mitrade. Other trackers are higher for some banks. Fiscal.ai data cited by Stocktwits show $14.84 for Goldman on revenue of $17.92 billion, $2.69 for Citi on $23.5 billion, and $5.95 for JPMorgan on $51.16 billion. Tra...
Global markets are entering another critical few days as Iran says it could respond to the latest U.S. proposal within days, while oil prices have surged above $105 a barrel amid renewed concerns over shipping and supply through the Middle East. Iranian Foreign Minister Abbas Araghchi said Thursday that Tehran is still reviewing Washington's response to an Iranian proposal and expects to provide its own response within the next few days. He also said that the diplomatic process between Iran and the United States is continuing. The timing is important for energy markets because oil prices are rising sharply at the same time that investors are watching the possibility of a diplomatic breakthrough. Iran's Response Could Become the Next Major Market Catalyst Araghchi's comments do not mean that a final agreement has been reached. Iran is still reviewing the U.S. position, while the two sides continue to negotiate through diplomatic channels. Iran's proposal is centered...