Big Banks to Kick Off Earnings Season
Big banks are set to report earnings after market volatility surged last week. The earnings reports from JPMorgan, Goldman Sachs, Citi, and Wells Fargo may calm the market.
The big banks, including JPMorgan (JPM), Goldman Sachs (GS), Citi (C), and Wells Fargo (WFC), are scheduled to release quarterly results on Tuesday, before the market opens, amid heightened market volatility.
Stocks were slammed lower on Friday as market focus shifted back to the trade war between the United States and China, after
President Trump threatened a massive increase in tariffs against China, sending the S&P 500 (/ES) nearly 3% lower. The Financial Select Sector SPDR Fund (XLF) lost over 2%.
Markets recouped some of those losses on Monday after tensions faded following a post from President Trump that appeared to downplay Friday’s messaging. However, the recovery wasn’t complete and volatility, via the VIX, remained elevated from last week.
Author's summary: Big banks report earnings amid market volatility.
- JPMorgan (JPM)
- Goldman Sachs (GS)
- Citi (C)
- Wells Fargo (WFC)