big banks

JPMorgan Chase, Wells Fargo, Citigroup, and Goldman Sachs reported their quarterly financial results today. It was a mixed bag.

JPMorgan Chase, Goldman Sachs, Wells Fargo, and Citigroup report third-quarter results on Tuesday, giving the first detailed look at how the Fed's rate hike and rising long-term bond yields are working through the economy.

Third-quarter earnings kick off next week with major financial institutions leading the way, followed by consumer staples companies like Johnson & Johnson, Procter & Gamble and Kraft Heinz.

Three big banks reported on Tuesday that credit card spending is up. According to Bank of America, its customers charged more on travel and entertainment, along with necessities like gas.

Banks are making money on the AI and stock market boom, whether by directly financing companies, facilitating stock trades, or managing IPOs.

The season kicks off in earnest this week with PepsiCo earnings on Thursday and Delta Air Lines on Friday, followed by a slew of big banks next week.

The word “resilient” came up in multiple earnings calls this week.

Big banks have been reducing their exposure to CRE, which is still grappling with high vacancy rates.

One reason banks are thriving is the number of mergers, acquisitions, and IPOs have increased over the past quarter.

Because they touch so many parts of this economy, banks’ quarterly reports can reveal a lot.