Earnings Spotlight — Big Banks, ASML & TSMC

Q3 Earnings Kickoff: What to Watch

Investment banking pipelines have improved; watch commentary on M&A, underwriting, and credit quality. For asset managers, flows into ETFs/crypto and AUM mix are in focus. For semis, AI‑capex cadence and lithography bottlenecks headline.

• Goldman Sachs (GS) — Tue Oct 14, ~7:30a ET. Focus: IB rebound, FICC/Equities trading run‑rate.
• BlackRock (BLK) — Tue Oct 14, 7:30a ET. Focus: AUM/flows, ETF/crypto exposure.
• Morgan Stanley (MS) — Wed Oct 15, ~7:30a ET. Focus: Wealth & IB margins.
• TSMC (TSM) — Thu Oct 16, 2:00a ET call. Focus: AI node mix, capacity adds, pricing.
• ASML (ASML) — Wed Oct 15 (pre). Focus: EUV backlog, China mix, 2026 shipment guide.

Bank Earnings Cheat Sheet

Watch: Net interest income (NII) trajectories into Q4, deposit beta, credit card loss rates, commercial real estate reserves, and buyback commentary.