Thursday Earnings Preview: Look to These Banking Giants for Key Consumer Insights

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While the big headlines often follow the investment banks, Thursday brings us Morgan Stanley (MS), Goldman Sachs (GS), PNC Financial (PNC), and U.S. Bancorp (USB).www.barchart.comThe exchange-traded fund (ETF) geek in me can’t help but think of them as two pairs rather than four of a kind. MS and GS are much larger, and thus play a more prominent role in the S&P 500 Index ($SPX), as well as many financial sector ETFs. The other two are leading regional players — still quite big but on a different plane.Ignore the Apple Noise and Consider Buying Qualcomm Stock for 2026If You Missed the Boat, Nvidia (NVDA) Stock Options Are Giving You Another TicketAlphabet Stock Is Still Undervalued According to Analysts - 1 Month GOOGL Puts Yield 2.50%Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today!The market will be looking to this foursome to post solid net interest income (NII) trajectories. But perhaps more nerve-wracking for those exposed to the sector will be updates on credit loss provisions. If the banks are tucking away more cash for rainy days, it tells you exactly what they think of the "soft landing" narrative.For Morgan Stanley and Goldman, the story in 2026 is the long-awaited "thaw" in the deal-making environment. We’ve had years of pent-up demand for mergers and acquisitions (M&A) and initial public offerings (IPOs).Morgan Stanley has a top-level wealth management arm. It’s the stabilizer that has made MS a much smoother ride than GS over the last decade. Goldman Sachs is currently the Dow’s ($DOWI) largest member, at more than 11% of the entire index.MS is not in that index and never has been. So both stocks could move similarly, but if you see the Dow Industrials move wildly on Thursday morning, there’s a good chance it's GS driving it.I see PNC and USB as the regional reality check. This is where the rubber meets the road. These regional heavyweights aren't focused on high-flying M&A; they are focused on mortgages, auto loans, and small business lines of credit.At a glance, GS looks like the broad market to me. Stretched, overvalued, but it only matters when the market decides it does. Maybe that will be this week — or maybe it will vault higher still. There’s no clear path here.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures7,001.25 +19.50 (+0.28%)Dow Futures49,740.00 +101.00 (+0.20%)Nasdaq Futures25,800.00 +94.25 (+0.37%)Russell 2000 Futures2,698.80 +10.40 (+0.39%)VIX15.84 -0.91 (-5.43%)Gold4,602.00 -21.70 (-0.47%)Trending tickersIBRX ImmunityBio, Inc. 3.9500 +0.9300 (+30.79%)ASTS AST SpaceMobile, Inc. 101.25 +6.03 (+6.33%)HOOD Robinhood Markets, Inc. 110.35 -9.32 (-7.79%)GS The Goldman Sachs Group, Inc. 975.86 +43.19 (+4.63%)SPHL Springview Holdings Ltd 17.41 +15.11 (+656.96%)PortfolioSign in to access your portfolioSign inTop gainersFIGR Figure Technology Solutions, Inc. 64.96 +9.14 (+16.37%)ERAS Erasca, Inc. 9.56 +1.25 (+15.04%)GLXY Galaxy Digital 31.99 +3.80 (+13.48%)FLNC Fluence Energy, Inc. 25.50 +2.85 (+12.58%)PEN Penumbra, Inc. 350.49 +37.06 (+11.82%)Top losersRGC Regencell Bioscience Holdings Limited 30.06 -5.11 (-14.53%)RCUS Arcus Biosciences, Inc. 21.79 -2.77 (-11.28%)CRCL Circle Internet Group 76.60 -8.20 (-9.67%)BEAM Beam Therapeutics Inc. 32.05 -3.36 (-9.49%)RDDT Reddit, Inc. 228.75 -23.63 (-9.36%)Most activeNVDA NVIDIA Corporation 187.05 +3.91 (+2.13%)INTC Intel Corporation 48.32 -0.40 (-0.82%)BBAI BigBear.ai Holdings, Inc. 6.17 -0.09 (-1.44%)GRAB Grab Holdings Limited 4.3900 -0.2400 (-5.18%)ONDS Ondas Holdings Inc. 12.82 -0.74 (-5.46%)Top economic eventsEarnings eventsMy earnings eventsEarnings events