US Big Bank Earnings Report

14 July, 2017

US Big Bank Earnings Report

Three of the US’s biggest financial institutions are slated to release their second quarter (the quarter ending on June 30th) earnings for 2017. JP Morgan Chase will announce their results on @JPMorgan and @Chase on Twitter, Citigroup and Wells Fargo will most likely release the data on their respective websites, but all information will also be available on the US Security and Exchange Commission’sВВ website.

Analyst are expecting “soft” earnings for this quarter, largely due to years of financial “fat-trimming” and the dissipation of the so-called “Trump Effect” which bolstered investors’ confidence initially in the tycoon-turned-president’s ability to reform the economy, put proved legislatively impotent within the first few months of its administration. ВВ Forecasts estimate Citigroup shares to float around $1.21 and earnings in the area of $17.4 billion, JP Morgan Chase at $1.59 and $25 billion of revenue and finally Wells Fargo at $1.01 and earnings at $22.16 billion. Wells Fargo fared the worst of the three institutions after weathering (i.e. settling) a $142 million class action suite regarding the creation of fake customer accounts.

Second quarter earnings for the institutions last year were:

  • CitigroupВВ - $1.24/share, $17.55 billion
  • JP Morgan ChaseВВ - $1.55/share, $25.21 billion
  • Wells FargoВВ - $1.01/share, $22.16 billion

ВВ ВВ ВВ 
At the moment, due to the expectation that earnings and shares for these three institutions will be lackluster, markets and investor sentiment is unlikely to fluctuate greatly but we will have to wait for the releases and see.ВВ 


Source link   Presented by STO

Australian dollar looks weaker

The Australian dollar has been doing okay against the USD in recent times on the back of the commodity boom that has been promising. However, there have...

AUD fly high on USD weakness

The commodity currencies have leapt into action with the Australasian ones being the dominate players in today's market. With the USD weakness...

Australian dollar to finish the year strongly

The Australian dollar has once again racked up another day of gains as commodity prices keep surging ahead but this time it’s not the rise...


AUD surges on employment data

The Australian market has got a huge lift this morning as the unemployment rate massively beat expectations to come in at +61K (+19k exp).

AUDUSD profit target reached perfectly

Price has plummeted to our profit target. We look to buy above 0.7534 support (Fibonacci extension, horizontal swing low support) for a push up to at least...

Australian dollar technical review

The Australian dollars remains under further pressure today, following on from yesterday after disappointing jobs figures which all but guarantees...


Australian dollar boosts

The Australian dollar has recovered in today’s trading after yesterday’s sell off on the back of strong local date which hit the market at its highest level...

Mixed signals for Australian dollar

The Australian dollar has pulled back in today’s trading, giving up the gains made yesterday on the back of neutral stance from the Reserve Bank...

Australian CPI sinks chances of rate rise

The Australian dollar was thumped by the market today as CPI data missed the mark coming in at 0.6% (0.8% exp) leaving the market with a bitter taste...

  


Share: