Q3 Stocks earnings season is already underway, having opened with PepsiCo and Delta Air Lines in early October, but the real starting gun is the week of the big banks, which are underway. JPMorgan, Wells Fargo, Citigroup and Goldman Sachs reported on 13th October, with Bank of America and Morgan Stanley following on the 14th.
The banks are always worth watching first, because they tend to be the clearest early signal of how the broader quarter is shaping up. Analysts expect S&P 500 earnings to grow close to 29% year over year for the third straight quarter above 25%, according to FactSet, which sets a high bar for everything that reports after the banks do.
This preview looks at the key shares and themes to watch, from AI spending and cloud growth to crypto exposure and consumer demand, alongside the seasonal patterns that could influence market sentiment.
A Seasonal Backdrop Worth Knowing
This year carries an extra layer worth watching: 2026 is a US midterm election year, and midterm years have a distinct seasonal pattern on record going back to 1950. September tends to be the weakest month of a midterm year, averaging roughly a 1% decline, but October has historically been the strongest month of the entire four-year presidential cycle, averaging close to a 3% gain for the S&P 500 and finishing positive about 74% of the time, according to Carson Group’s research. November tends to follow with the second-strongest average return.
That doesn’t mean October is guaranteed to be strong this year, and seasonality is a backdrop rather than a forecast. But a historical pattern with that much consistency behind it is worth factoring in, particularly heading into a season where actual earnings growth is already running well above average.
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See all Gold forecastsBig Tech: Can Spending Keep Pace With Growth?
The heaviest week of the season lands in late October and early November. Alphabet (GOOG) reports on 28th October, Amazon (AMZN) over 28th and 29th October, and Meta Platforms (META) sometime between 28th October and 4th November. Apple follows on 2 November. Between them, these four companies will say more about AI spending, cloud growth and advertising demand than almost any other set of reports this quarter.
The question investors keep asking is whether the spending behind AI infrastructure is translating into revenue fast enough to justify it. Cloud growth rates, capital expenditure guidance and any commentary on AI monetization will likely move these stocks more than the headline revenue or earnings numbers themselves.
Chipmakers and the AI Supply Chain
Intel reports on 29th October, with AMD following on 3rd November and Super Micro (SMCI) the same day. NVIDIA is expected late November, reporting later than most because of its fiscal calendar, which means its results often arrive with the market already having formed a view on AI demand from everyone else’s earnings first. How the earlier chip and server names perform could set the tone for how NVIDIA’s own report is received.
Crypto Exposure Through Traditional Earnings
Coinbase (COIN) and Strategy (MSTR) both report on 29th October, giving traders two very different ways to read the same underlying asset. Coinbase’s results reflect trading volume and exchange revenue, while Strategy’s are driven largely by how its Bitcoin treasury has performed over the quarter. Comparing the two is one of the more direct ways to see how a single crypto cycle shows up differently depending on the business model behind it.
Consumer and Mobility Names
Amazon’s results double as a consumer spending signal beyond just its cloud business, and Shopify (SHOP) on 3rd November and Uber on 4th November round out a read on how shopping and mobility demand are holding up heading into the holiday quarter. Palantir (PLTR), reporting on 2nd November, and Tesla (TSLA), scheduled to report on 21st October, round out the broader picture of how growth-oriented names are being judged this season.
How to Trade This Earnings Season with PrimeXBT
Major US shares across these themes, from Big Tech and chipmakers to crypto-linked companies and consumer names, are available to trade as CFDs with global multi-asset broker PrimeXBT, alongside Forex, commodities, indices and Crypto Futures, all from the same account on PXTrader 2.0. During a season like this one, a single theme can run through several markets at once.
AI spending, for instance, touches the share prices of chipmakers, cloud providers and software firms, and it also moves the US Tech 100, which those companies weigh heavily on. A trader can follow the theme through individual share CFDs and the index without switching accounts. For traders who hold Bitcoin or Ether, PrimeXBT accounts can be denominated in BTC or ETH, so that capital can be used as margin to trade share CFDs without first converting to fiat.
Costs are especially important when positioning around several reports in close succession. PrimeXBT combines competitive spreads on shares with commission-free CFD trading, while spreads on the US500 start from 0.4 points and the USTEC from 0.8 points. Its five-tier VIP program reduces costs further as trading volume increases, with discounts of up to 25% on Forex and CFD spreads.
New clients also automatically receive VIP4 tier status for their first 14 days, giving them access to up to 15% off Forex and CFD spreads, including shares and indices, from the outset. This allows traders joining during earnings season to benefit from lower costs without first meeting the usual VIP trading-volume requirements.
TradingView charts, with more than 100 indicators built directly into the platform, let traders track a name’s reaction across the days following a report.
Risk management tools are available across every share CFD on the platform: adjustable leverage, stop loss and take profit, and negative balance protection so a position can never push an account below zero even on a sharp overnight move.
The Bottom Line
This earnings season carries more than the usual amount riding on it: a historically strong seasonal backdrop, earnings growth running near 29%, and a set of AI-linked reports that the market has been waiting months to see validated. The banks kick things off in the second week of October, but the real test comes when Big Tech and the chipmakers report over the following three weeks, and how those results land will likely shape sentiment well into the new year.
Trade shares with PrimeXBT.
About PrimeXBT
PrimeXBT is a global multi-asset broker and crypto asset service provider trusted by traders in more than 150 countries. The platform bridges traditional and digital markets within one integrated environment, redefining versatility and innovation in online trading. Clients can access Forex, CFDs on indices, commodities, shares, crypto, and Crypto Futures, as well as buy, store and exchange cryptocurrencies. This unified experience extends across both the native PXTrader 2.0 platform and MetaTrader 5, supported by advanced risk-management tools and a wide range of funding options in crypto, fiat and local payment methods. Since 2018, PrimeXBT has focused on empowering traders through broad multi-asset access, fair and transparent conditions, professional-grade technology and dedicated human support. By combining expertise, trust and a client-first approach, PrimeXBT sets a benchmark of excellence in the financial industry and provides traders with the tools they need to trade, grow and succeed with confidence.
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