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 affected by the trade war between the United States and China, with stocks experiencing a decline on Friday after President Trump threatened a massive increase in tariffs against China. The S&P 500 fell nearly 3%, and the Financial Select Sector SPDR Fund lost over 2%.
However, on Monday, the market recouped some of its losses after President Trump appeared to downplay his previous messaging. Despite this, volatility remains elevated, as indicated by the VIX.
President Trump threatened a massive increase in tariffs against China
- JPMorgan (JPM)
- Goldman Sachs (GS)
- Citi (C)
- Wells Fargo (WFC)
These big banks will release their quarterly results amid heightened market volatility.
Author's summary: Big banks report earnings amid market volatility.