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

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

Recap TheStreet Live: Everything Jim Cramer Is Watching 7/14