Goldman's top trades heading into earnings season

S & P 500 estimates have been revised down 1.8% over the past three months as analysts digest the potential impact of inflation and other macroeconomic data on companies' fundamentals. "Our single stock analysts' price targets imply 14.9% upside over the next year for the weighted average of S & P 500 companies in our coverage, above the 10% average ahead of earnings season over the past 11 years," Goldman analyst John Marshall said in a note Wednesday morning.

BNY Mellon is another financial stock the firm expects will post good earnings growth for Q1, at 15%. Over the next year, earnings could rise 11%. The company will also report next week. Industrial stocks could be big movers too, according to Goldman. It highlighted Deere , with a projected 5% move that is roughly in line with how the stock has fared on average over the past two years.

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Goldman Sachs, Morgan Stanley, BNY Mellon and State Street top Jefferies list for Q1 bank earningsFour big banks offer less risk around net interest income and credit, Jefferies says as it awaits first-quarter earnings results.
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Goldman Sachs to enter transaction banking business in JapanGoldman Sachs Group Inc said on Wednesday it is launching its transaction banking business for corporate clients in Japan, as the U.S. investment bank expands in the world's third-largest economy.
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