Nike, Oracle, FedEx Headline Early Earnings as S&P 500 Profits Grow

Strong earnings growth meets rising energy-driven volatility in Q1

Apr. 8, 2026 at 11:30am

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Nike, Oracle, and FedEx are among the major companies reporting early earnings this week as the S&P 500 sees strong profit growth in the first quarter, though rising energy prices are adding volatility to the market.

Why it matters

The Energy sector's improving profitability outlook is boosting the overall favorable earnings revisions trend for the S&P 500, though high oil prices could eventually weigh on consumer spending and the broader economy.

The details

The Zacks Energy sector is currently expected to enjoy 7.6% earnings growth in Q1 2026, up from 0.9% growth expected a week ago and a 1.9% decline expected at the start of January. For the full year 2026, the expectation is now 16.3% earnings growth, up from 10% expected a week ago and 5.4% at the start of January. However, persistently high oil prices could eventually act as a 'tax' on households and weigh on consumer spending, offsetting the benefits to the U.S. as a major oil producer.

  • The 2026 Q1 earnings season will really get underway when JPMorgan, Citigroup, and Wells Fargo report results on April 14th.
  • 18 S&P 500 members have already reported results for their fiscal quarters ending in February, including Nike, Oracle, and FedEx.

The players

Nike

An American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services.

Oracle

An American multinational computer technology corporation that specializes in developing and marketing computer hardware systems and enterprise software products.

FedEx

An American multinational delivery services company known for its express transportation, e-commerce and business services.

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The takeaway

While the Energy sector's improved profitability is boosting overall S&P 500 earnings, persistently high oil prices could eventually weigh on consumer spending and the broader economy, highlighting the delicate balance the U.S. faces as both a major oil producer and consumer.