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Goldman Sachs Predicts Volatile Earnings Season Ahead

1/10/2026

Summary

Story summary

Goldman Sachs expects heightened post-earnings volatility, with the average S&P 500 stock moving 4.5%, the lowest in two decades, and Meta Platforms, Inc. and UnitedHealth Group likely to beat earnings.
The firm notes options traders underestimate potential moves.
Goldman recommends buying call options on stocks likely to surprise and put options on Texas Instruments and Southwest Airlines, facing margin pressures.
They see opportunities in utilities, healthcare, materials, and industrials.

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Story summary

Goldman Sachs expects heightened post-earnings volatility, with the average S&P 500 stock moving 4.5%, the lowest in two decades, and Meta Platforms, Inc. and UnitedHealth Group likely to beat earnings.
The firm notes options traders underestimate potential moves.
Goldman recommends buying call options on stocks likely to surprise and put options on Texas Instruments and Southwest Airlines, facing margin pressures.
They see opportunities in utilities, healthcare, materials, and industrials.