What Bank Earnings Tell Jim Cramer About the Delta Variant, Consumer

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Following in the footsteps of JPMorgan Chase  (JPM) - Get Report and Goldman Sachs  (GS) - Get Report, Wall Street saw earnings from Wells Fargo  (WFC) - Get Report, Citigroup  (C) - Get Report and Bank of America  (BAC) - Get Report Wednesday.

Earnings Recap

Wells Fargo

Wells Fargo reported net income of $6.04 billion, or $1.38 a share, on second quarter revenue of $20.27 billion.

Citigroup

Citigroup reported adjusted earnings per share of $2.85 on revenue of $17.5 billion.

Bank of America

Bank of America reported adjusted earnings per share of $1.03 on revenue of $21.5 billion.

Jim Cramer told Action Alerts PLUS senior analyst Jeff Marks that the overall takeaway from bank earnings is that right now markets and the consumer don't see the delta variant of the coronavirus as a threat. 

"They are not afraid because they see the death rate going down," Cramer said. 

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