This Is Why Bank Performance Sets the Stage for the Rest of Earnings Season
Bank earnings set the stage for the rest of the reporting season. On Wednesday, BlackRock reported better than expected earnings, while Citigroup and JPMorgan Chase release earnings on Thursday.
Bank earnings set the stage for the rest of the reporting season.
John Eade, CEO of Argus Research, likens the banking sector to the "heart" of the economy. He pointed to the crisis in 2008, when the "heart" wasn't strong.
On Wednesday, BlackRock (BLK) - Get Report reported better than expected earnings, while Citigroup (C) - Get Report and JPMorgan Chase (JPM) - Get Report release earnings on Thursday.
Financials sector earnings are set to decline 7.8% year-over-year, but that includes insurance companies grappling with the aftermath of recent hurricanes.
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