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We start a new trading week with plenty on our calendar — hopefully which will offer some new market narratives outside the happenings at the Strait of Hormuz and its effect on global oil prices. After today’s open, we’ll see Existing Home Sales for March, than for the rest of the week we’ll get PPI Tuesday, Imports/Exports for March and Empire State and Homebuilder Confidence for April Wednesday, and Jobless Claims and April Philly Fed Thursday.
In addition, the first full week of Q1 earnings season is upon us. This includes many of the biggest banks on Wall Street, including JPMorgan Chase JPM, CitigroupC and Wells FargoWFC tomorrow, and Bank of AmericaBAC and Morgan StanleyMS on Wednesday. In other sectors, Johnson & JohnsonJNJ reports Tuesday, and PepsiCoPEP and NetflixNFLX post results Thursday.
Goldman Sachs Trades Lower After Q1 Beat
Investment bank major Goldman Sachs GS outperformed Q1 expectations on both top and bottom lines this morning, but shares are slipping in the pre-market ahead of the company’s conference call. Earnings of $17.55 per share easily surpassed the $16.34 in the Zacks consensus, with $17.23 billion in revenues improving on the $16.98 billion expected, +14.4% year over year. Fixed Income revenue fell -10% in the quarter, however.
There was no forward guidance in the press release, but we should be seeing more details on the call. Shares are down -4% in pre-market market activity, swinging to negative year to date. This, even though we’ve seen +24% earnings growth from a year ago on the bank’s 11th straight quarterly earnings beat.
What to Expect from the Stock Market Today
Of course, we’re all tallying the fallout from the failed peace talks between the U.S. and Iran over the weekend. Oil prices are up +7% this morning — $104/bbl on WTI and $102/bbl on Brent crude — while early trading in the major indexes is fighting off the lows but still in negative territory (except for the Dow, which is being sandbagged somewhat by Goldman’s earnings: the Dow -465 points, the S&P 500 -33, the Nasdaq -111 points and the small-cap Russell 2000 -14.
The U.S. plans to block the Strait of Hormuz this morning. This may be the most important development of this day’s trading activity. There are plenty of question marks, as the U.S. does not have a coalition of allies assisting with these efforts, but pre-markets appear to be in a wait-and-see mode for now.
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Murphy Oil’s stable financial position, systematic hedges, cost-saving initiatives and low-cost asset development are expected to boost its future performance.
Strength across all product groups is a positive catalyst for Edwards Lifesciences. The company’s bullish long-term growth strategy buoys optimism on the stock.
Mastercard’s strategic acquisitions, alliances and technology upgrades, along with product diversification and geographic expansion initiatives augur long-term growth.
Starz Entertainment Corp. (STRZ)Upgraded: 04/09/26
Starz Entertainment’s accelerating OTT growth, improving margins, rising cash flow outlook and focused brand strategy position it for durable subscriber-driven expansion and long-term growth.
Rocket faces rising expenses, Redfin and Mr. Cooper integration risk, and housing and regulatory headwinds. Muted originations due to tight inventory, high prices and still-high rates are a concern.
National Steel’s results will be impacted by volatile iron ore prices and higher costs for raw materials and fuel until the situation stabilizes. Its high-debt levels add to the concerns.
The Hain Celestial Group (HAIN)Downgraded: 04/10/26
Hain Celestial’s North America segment is critical for overall company growth and consistent underperformances in major categories could drag down future performance.
Increased dependence on advisory revenues and continued net outflows will affect Lazard’s top-line growth in the upcoming period. Further, its capital distribution activities seem unsustainable.
Substantial share-based compensation relative to net revenues will likely dilute Robinhood shareholders’ near-term stake. Elevated regulatory expenses may affect the company’s financials.
Lindsay is witnessing supply-chain constraints, most notably in electronics, which will continue to impact results. The recent decline in corn prices is also concerning.
QuidelOrtho’s operation in a stiff competitive space and its weak solvency position are concerning. Uncertainties about third-party reimbursement policies, macroeconomic concerns persist.
Blue Owl faces near-term pressure from private-credit liquidity strains and borrower quality worries. Further, delayed fee ramp timing and elevated expenses may pressure the company’s financials.
American Eagle is well placed on cost-reduction efforts and brand progress. In the second half, the company expects to cycle tariffs and advertising investments.
Robust loan growth and Bank of America’s expansion into new markets by opening financial centers will likely aid the top line. Digital enhancements will keep aiding cross-selling opportunities.
Kroger drives growth with digital expansion, private label success, fresh offerings and strategic partnerships, while investments in AI and value creation fuel long-term scalability.
Central Garden & Pet advances digital, supply chain and product innovation while driving margin gains and M&A, backed by strong financials and a focused Cost and Simplicity program.
Strength across all product groups is a positive catalyst for Edwards Lifesciences. The company’s bullish long-term growth strategy buoys optimism on the stock.
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