How Jim Cramer Approaches Bank Earnings
Let's go over bank earnings.
With the second quarter in the books, many are turning their attention to the third quarter. And, as they always do, the banks will kick off earnings season.
However, this time it'll be different because investors will want to hear about the stress tests that the Fed did last quarter and how the banks are responding to the coronavirus pandemic.
"Well, I'm working on a piece about the banks. They come for, I mean, one of the things that I think people don't understand about earnings season is that as they roll out, each one is evaluated on its own. So you'll have a week where JP Morgan will report, and that's all people care about. And then there'll be a week where Proctor reports, and only people care about, Caterpillar, Boeing. And so the first ones are the banks. And they're the ones I'm most worried about. Because I thought that the Fed took action, which just said that the banks aren't any, you know, the banks have real problems. And the Fed, you know, took the side of the bears. I think that's really, really important. And people are looking through that today, and I don't think they should look through it. I think it's a real issue," said Cramer.
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