WFC Jul 2024 60.000 put
- Yahoo Finance Video
Why big banks are 'chugging along': Portfolio manager
As major financial institutions like JPMorgan (JPM), Citi (C), and Wells Fargo (WFC) prepare to release their earnings this week, Macrae Sykes, Gabelli Funds portfolio manager, joins Catalysts to share his outlook on the banking sector. Sykes expresses a bullish stance on bank earnings, highlighting two key factors that could potentially boost reports. First, he notes that the S&P 500's (^GSPC) 5% increase for the quarter could positively impact asset and wealth management segments in bank earnings. Secondly, Sykes points to "a slight decline" in the ten-year yield, which he views as beneficial for operating capital contribution. Overall, Sykes sees "continued steady progress" in the banking sector, asserting that "fundamentally, they're chugging along and in good shape." Regarding consumer trends supporting big banks, Sykes acknowledges a slowdown among lower-income consumers due to inflation pressures. However, he emphasizes that "we continue to see pretty strong metrics out of the higher-end" consumers. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This article was written by Angel Smith
- Yahoo Finance Video
June CPI, Big Bank earnings in focus this week: Top stories
Wall Street is gearing up for a crucial week as key economic data and major bank earnings converge. Investors are focusing on two main events: the Consumer Price Index (CPI) report due out Thursday and earnings releases from banking giants like JPMorgan Chase & Co. (JPM) and Wells Fargo (WFC) on Friday. Together, these reports will help investors gauge the potential direction of the Federal Reserve's monetary policy. Morning Brief co-hosts Seana Smith and Brad Smith break down the top market stories to come this week. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This article was written by Angel Smith
- Bloomberg
Banks’ Hedges Are Cheap Before the Start of the Earnings Season
(Bloomberg) -- JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. are kicking off the US banks’ earnings season on Friday, and traders are feeling pretty relaxed about it. Most Read from BloombergMicrosoft Orders China Staff to Use iPhones for Work and Drop AndroidBoeing to Plead Guilty to Fraud for Violating Deal Over 737 Max CrashesBiden Narrows Gap With Trump in Swing States Despite Debate LossMorgan Stanley’s Wilson Says a 10% Stock Market Correction Is ‘Highly Likely’Hedge Funds Tha
