Wall Street's biggest banks kick off third-quarter earnings season on Tuesday, a pivotal test of whether the stock market's record-setting run this week can be justified by the underlying numbers.

JPMorgan Chase, Goldman Sachs, Wells Fargo and Citigroup are all scheduled to report Oct. 13, according to CNBC. JPMorgan's results are due around 7 a.m. ET, with an 8:30 a.m. call for analysts; the bank is expected to report roughly $5.82 to $5.84 in earnings per share on about $50.6 billion in revenue. Goldman Sachs is expected to post EPS in the $16.00 to $16.40 range. Bank of America and Morgan Stanley follow on Oct. 14, with U.S. Bancorp and Charles Schwab reporting Oct. 15.

What Investors Are Watching

JPMorgan has already guided investors to expect investment banking and markets revenue up in the mid-to-high teens from a year ago, buoyed by dealmaking and AI-linked trading activity. Bank of America, by contrast, has signaled investment banking fees could fall 10 to 20 percent, pointing to an uneven recovery across the sector.

INVESTORS ARE NOW LOOKING TO EARNINGS SEASON TO JUSTIFY THE RALLY.

The earnings arrive on the heels of a record-setting Friday close. The Dow Jones Industrial Average rose 0.83 percent to 51,655.01, the Nasdaq Composite climbed 0.64 percent to 27,366.17, and the S&P 500 finished within striking distance of an all-time high, capping a volatile week marked by a surge in long-dated Treasury yields and higher oil prices.

Analysts say the bank results will offer the clearest early signal of whether corporate America's underlying health matches the optimism priced into equities, with consumer lending trends and commentary on loan losses likely to draw particular scrutiny given recent strain on cash-strapped shoppers.