Bank earnings reports from JP Morgan, Wells Fargo

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Yes, now all the major banks have started reporting their bank earnings, the main ones being JP Morgan and Wells Fargo.

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According to Kenneth Lyon, Director of Research at CFRA, there has been a lack of investment in capital markets in Q3

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And there is no hope of improvement in this even further as there is news of recession in 2023.

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But despite all this, it is expected that due to its rising interest rates, net interest income may increase.

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Wells Fargo's expected earnings are $1.13 per share, but its results are down 27% and are now at 85 cents per share.

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JPMorgan Chase's earnings are expected to be $2.90 per share but its results have fallen to $3.12 per share.

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The same Morgan Stanley earnings are expected at $1.52 per share but the result is $1.53 per share.

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The city's earnings expectations are $1.44 per share and the result is down 24% to $1.63 per share.

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