Big Banks to Kick Off Earnings Season
Big banks are set to report earnings after market volatility surged last week. The earnings season will begin on Tuesday with JPMorgan, Goldman Sachs, Citi, and Wells Fargo releasing their quarterly results.
The market has been experiencing heightened volatility, with stocks plummeting on Friday due to the trade war between the United States and China.
President Trump threatened a massive increase in tariffs against China, causing the S&P 500 to drop nearly 3% and the Financial Select Sector SPDR Fund to lose over 2%.
Although some losses were recouped on Monday after President Trump seemed to downplay Friday's messaging, volatility remains elevated. The big banks' earnings reports may help calm the market.
- JPMorgan (JPM)
- Goldman Sachs (GS)
- Citi (C)
- Wells Fargo (WFC)
Author's summary: Big banks will report earnings amidst market volatility.