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Why Financials Stocks Are Likely to Take a Leadership Role in This Stock Market

Financials stocks are set to take on a leadership role across the markets, according to banking analyst Mike Mayo of Wells Fargo Securities.
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Financials stocks are set to take on a leadership role across the markets, according to banking analyst Mike Mayo of Wells Fargo Securities. 

"We think financials stocks, at least, the banks themselves, should become more of a leader in the market," he said in an interview with TheStreet. "The fundamentals of banks are very strong."

He said bank balance sheets are the strongest they've been "in a generation."

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JPMorgan Chase (JPM) - Get JP Morgan Chase & Co. Report , Citigroup (C) - Get Citigroup Inc. Report and Wells Fargo (WFC) - Get Wells Fargo & Company Report release first quarter earnings on Friday. 

Watch our entire interview with Mike Mayo on YouTube: