U.S. earnings season begins amid interest rate uncertainty and AI focus

The U.S. earnings season has officially commenced, with major banks reporting quarterly results. Market analysts indicate that interest rate trajectories and inflation expectations, particularly the Consumer Price Index (CPI), will be the primary drivers for the banking sector and broader market performance.

Recent reports show varied results among major institutions. Goldman Sachs recorded approximately $600 million in revenue from the SpaceX IPO. Conversely, Bank of America saw a decline in share price, partly due to a fine exceeding $1 billion imposed by the OCC regarding anti-money laundering prevention.

Investors are also closely monitoring the technology sector, specifically companies heavily invested in artificial intelligence infrastructure, such as Meta, Tesla, Lam Research, and Texas Instruments. There is ongoing market debate regarding the long-term sustainability of AI-driven growth.

In China, attention is shifting toward upcoming economic indicators, including third-quarter GDP, retail sales, industrial production, and fixed capital investment. While domestic demand remains uneven, strong global demand for semiconductors and clean energy technologies continues to support Chinese exports.