JPMorgan will report its first-quarter earnings on Wednesday to start the US season. Banks are set for a hit from a slowdown in corporate dealmaking, while energy is poised to rebound on the back of a surge in crude prices.
Wall Street trimmed its expectations heading into the quarter, but corporate America is expected to push through its “last big beat for a while”, said analysts at Bank of America.
Top and bottom lines
The S&P 500 is expected to report “blended” growth — a mix of actual and expected earnings per share — of 4.5 per cent in the first quarter from a year ago, data provider FactSet shows.
Difficult year-ago comparisons and a number of macroeconomics disruptions, including inflation and supply chain bottlenecks, have been blamed for what could be the slowest EPS growth rate since the fourth quarter of 2020.
However, American blue-chip companies often overcome grim initial estimates and, based on the average…
