$JPMorgan Chase(JPM)$ , $Citigroup(C)$ and $Wells Fargo(WFC)$ have scheduled to announce their latest quarterly earnings results tonight before the US market opens. The trio are among the largest diversified banks that have dominated the retail and corporate banking scenes in US, and have survived the previous banking crisis that had saw the high-profile failures of a number of banks. The trio have benefited from higher net income margins amidst heightened interest rates to tackle a sticky inflation.
With an end of the interest rate hiking cycle and expected commencement of rate cuts sometime this year, the anticipation of lower interest rates is bound to revive corporate investments, business expansions and M&A activities this year. These should bode well especially for the investment banking sector.
I believe that the US banking sector is poised for recovery along with the soft landing of the US economy that has so far managed to avert a recession with the help of robust employment data. The improvement in lending activities should give the banks a shot in their arms. Hopefully, there will be spillover effects on other banking stocks such as $Bank of America(BAC)$ as well after JP Morgan, Citigroup and Wells Fargo have posted their results.
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