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Major US banks are set to report their earnings for the second quarter, with expectations lower due to decreased profits from interest payments and higher credit losses. Citigroup and JP Morgan will kick off the earnings season, while regional banks face challenges from rising rates.
Big banks, led by Citi $C, JPMorgan $JPM, Wells Fargo $WFC and Bank of New York Mellon $BK, are lined up to release their Q2 results this Friday
Heading into their Q2 earnings reports later this week, the major US banks and brokers have quietly had great years so far, with 5 of 6 up 23%+ YTD and outperforming the S&P $SPY. $BAC $C $GS $JPM $MS $WFC https://t.co/NHCCfUcBFH
🔵 US REGIONAL BANKS TO FACE INCREASED SCRUTINY AS CRE EXPOSURE STIFLES BUYBACKS U.S. regional banks will probably stockpile more rainy-day funds and stay conservative on stock buybacks as losses from commercial real estate (CRE) loans are expected to pressure their earnings,…
