[Big bank earnings and stock outlook: What to expect amid high interest rates]Big banks including JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) are set to issue their quarterly earnings reports on Friday morning. One area of focus will be how these big financial institutions are coping with the Federal Reserve's high for longer interest rate policy. $Citigroup(C)$ $JPMorgan Chase(JPM)$ $Wells Fargo(WFC)$
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Sold BAC, WFC, JPM and C after the Silicon Valley news was drying up for a 10%+ return. I’m adding BAC at these levels and I’m willing to wait it out for longterm as I don’t see banks recovering quickly.
it’s strange that in this time of good economy and job market and higher rates banks stocks like wfc are craters Wfc down 20 percent in few months.while expensive tech stocks do much better.in this time value cheap stocks do better.
JPM has much more to fall as Credit card defaults and corporate defaults combine with soaring bond rates to decimate JPM capital and earnings. Customers moving to CD's in droves shrinking JPM reserves.
JPMorgan is expected to have set aside a large amount of money for potential bad loans, given the global slowdown risk due to geopolitical and macroeconomic concerns and tighter financial conditions.
BAC has been flat but JPM is at 145 from 130 in March despite the recent sell off. I’d say they did well.