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Attention: Bank earnings incoming!

by | 12 Jan, 2018

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It’s another bank earnings bonanza this Friday

BlackRock, PNC financial services, JPMorgan Chase and Wells Fargo are reporting fresh earnings today.

JPMorgan and Wells Fargo are the number 1 and number 2 banks by market cap in the US, and their results are often seen as a barometer for the performance of the financial sector as a whole.

Questions are arising as to what effect Republican tax cuts will have on the performance of key players within the banking sector, whether bond trading revenues will continue to fall (JPMorgan’s bond trading revenue dropped 21 per cent last quarter) and whether these institutions will be supporting Bitcoin trading in future for clients.

JPMorgan Chase will be the first to release earnings. On their potential results, analysts from investment banking firm Macquarie said: “The fourth quarter will be noisy to say the least,” with meaningful tax-related charges. The quarter was also “uninspiring,” weighed down by “continued low volatility, challenging fixed income comps and limited client engagement.”

On the whole, 2017 was a good year for bank stocks after the Federal Reserve under Janet Yellen repeatedly hiked interest rates away from record lows, helping profits on loans to increase. Shares also rose thanks to prospects of lower taxes and lighter regulation in the banking sector. Another key financial player Bank of America began 2018 by rising past the symbolic $30 a share mark, a price not seen since October 2008 in the midst of the financial crisis.

Related: Tax reform bill nears final stage – U.S. markets open higher!

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A comparison of the performances of BlackRock, PNC, Wells Fargo and JPMorgan Chase over 2017

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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