Quick overview
- Investors are anticipating a volatile earnings week with major companies like Microsoft, Meta, Apple, and Amazon reporting results that could impact various sectors.
- Key focus areas for these companies include AI spending, cloud growth, consumer demand, and forward guidance, which may drive market sentiment.
- Mastercard’s earnings will provide insights into consumer spending trends, while Shell and ExxonMobil’s results will reflect the energy market outlook.
- Despite elevated expectations, strong earnings may not guarantee sustained gains, as investors will closely scrutinize management commentary and future guidance.
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Investors face a potentially volatile earnings week as Microsoft, Meta Platforms, Apple, Amazon, Mastercard, Shell, and ExxonMobil report results that could influence technology, consumer spending, payments, and energy stocks.
This is a particularly important earnings week, with Microsoft, Meta Platforms, Apple, and Amazon representing the biggest potential catalysts for the broader stock market. Their results could shape sentiment around AI spending, cloud growth, consumer demand, and technology valuations. Meanwhile, Mastercard will offer a window into global spending trends, while Shell and ExxonMobil could provide fresh insight into the outlook for energy markets.
With expectations elevated across several mega-cap companies, strong results may not necessarily be enough to drive sustained gains. Investors could place greater emphasis on forward guidance, capital expenditure, margins, and management commentary, creating the potential for significant volatility around each earnings release.
Earnings Calendar Highlight for the Week
Microsoft (MSFT) – Q4 2026 Earnings
- Earnings timing: After market close (AMC)
- Expected EPS: $4.24
- Market capitalization: Approximately $2.84 trillion
- Investors will focus heavily on Azure cloud growth, AI spending, and commercial demand.
- Microsoft’s massive infrastructure investments remain a key issue as markets assess whether AI-related revenue growth is keeping pace with rising capital expenditure.
- Guidance for the next quarter could be just as important as the headline results, particularly given elevated expectations surrounding Microsoft’s cloud and AI businesses.
Meta Platforms (META) – Q2 2026 Earnings
- Earnings timing: After market close (AMC)
- Expected EPS: $7.22
- Market capitalization: Approximately $1.51 trillion
- Investors are likely to focus on advertising revenue, user engagement, AI investment, and capital expenditure.
- Meta’s aggressive spending on AI infrastructure has raised questions about whether higher costs can generate sufficient long-term returns.
- Any changes to spending plans or guidance could trigger significant movement in META shares given the stock’s large valuation.
Apple (AAPL) – Q3 2026 Earnings
- Earnings timing: After market close (AMC)
- Expected EPS: $1.89
- Market capitalization: Approximately $4.89 trillion
- Key areas of focus include iPhone demand, services revenue, China sales, and the company’s AI strategy.
- Investors will be watching closely for signs of weakening consumer demand or pressure in the Chinese market.
- Apple’s enormous valuation leaves relatively little room for disappointing guidance, making the outlook potentially more important than the quarterly numbers themselves.
Amazon (AMZN) – Q2 2026 Earnings
- Earnings timing: After market close (AMC)
- Expected EPS: $1.82
- Market capitalization: Approximately $2.5 trillion
- Investors will focus on AWS growth, e-commerce performance, advertising revenue, and AI-related capital expenditure.
- Amazon’s heavy spending on data centres and AI infrastructure remains a major concern as investors increasingly demand evidence of stronger returns on investment.
- AWS margins and free cash flow could be particularly important in determining the market’s reaction.
Mastercard (MA) – Q2 2026 Earnings
- Earnings timing: Before market open (BMO)
- Expected EPS: $4.78
- Market capitalization: Approximately $476.83 billion
- Mastercard’s results will provide insight into consumer spending, cross-border transactions, and payment volumes.
- Investors may look for evidence of resilient consumer activity despite economic uncertainty and elevated living costs.
- Cross-border payment growth could remain an important driver of earnings.
Shell (SHEL) – Q2 2026 Earnings
- Earnings timing: Before market open (BMO)
- Expected EPS: $3.18
- Market capitalization: Approximately $244.54 billion
- The energy giant’s results will be influenced by oil and gas prices, refining margins, and geopolitical developments.
- Investors will also assess cash generation and shareholder returns as energy markets remain highly volatile.
- Any significant changes in commodity prices during the quarter could influence earnings expectations.
ExxonMobil (XOM) – Q2 2026 Earnings
- Earnings timing: Before market open (BMO)
- Expected EPS: $3.68
- Market capitalization: Approximately $650.51 billion
- Investors will focus on crude oil prices, production volumes, refining performance, and capital spending.
- The recent surge and subsequent volatility in oil prices could make the company’s outlook particularly important.
- ExxonMobil’s guidance may provide clues about how the company is positioning itself for a potentially more volatile energy market.
Gold Returns to the $4,000 Level
Gold prices experienced a volatile trading week, ultimately finishing significantly lower after an initially strong rally lost momentum. The precious metal climbed above $4,300 early in the week but later reversed sharply, ending nearly $100 below its recent highs as investors reassessed the outlook for interest rates and global risk sentiment.
The decline was largely driven by a stronger U.S. dollar, rising Treasury yields, and reduced demand for defensive assets following positive geopolitical developments in the Middle East. Despite the weakness, gold remains above the critical $4,000 support zone, which continues to define the longer-term bullish trend but it is under attack.
MAs Keeping USD/JPY Supported
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips as the pair found support at the 20 daily SMA (gray) and has rebounded more than 200 pips off that MA but reversed after the 25 bps rate cut from the FED. The price approached $160 but reversed after the BOJ meeting and fell 8 cents but found support at $152 at the 100 daily SMA (red) and rebounded above 156 but have reversed down again this week after the Japanese elections.
USD/JPY – Daily Chart
Cryptocurrency Update
Bitcoin Tries to Resume Uptrend
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down to $80K before finding support at the 100 weekly SMA (green). A rebound followed, sending BTC near $100 is the first major text for Bitcoin buyers. However BTC returned lower and fell below $80K, breaking below the but the 100 weekly SMA (green) but the decline stopped at the $60K support where the 200 weekly SMA (purple) stands and rebounded above $76K but returned below $70K again.
BTC/USD – Daily Chart
Ethereum Returns Toward $2,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. Last week we saw a dive below $2,000 but buyers returned and pushed the price above $2K again.
ETH/USD – Weekly Chart
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank’s local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
