JPMorgan, Wells Fargo lead the parade of banks whose quarterly results may offer clues on how consumers and companies fared during a volatile period. The S&P 500 climbed 0.1%, and the Nasdaq composite rose 0.3% to a record.
If there's a beaten-down “non-correlated” (or uncorrelated) asset class to the S&P 500's bull market, it's the Russell 2000 Value segment, and the biggest concentration within that asset class is financials. Citigroup reports on July 15th before the opening bell, and analyst consensus coming into the Q2 earnings release is expecting $1.60 in EPS on $20.98 billion in revenue, for expected year-o...
JPMorgan is well positioned to outperform, driven by robust net interest income, deregulation, capital flows, and a rebound in capital markets activity. The delay of Basel III Endgame and strong Fed Stress Test results provide JPM with significant capital flexibility for dividends, buybacks, and growth initiatives. I estimate a $335 price target for JPM, reflecting a 17% upside based on forward...
JPMorgan has reportedly told FinTechs it will begin charging for access to customer bank info. That's according to a report Friday (July 11) from Bloomberg News, which noted these fees from the largest American bank could amount to hundreds of millions of dollars, threatening the FinTech sector's business model.
Earnings season kicks off with major banks and Netflix reporting; June CPI data is expected to show a modest inflation uptick. Amazon's Prime Day set new records with a four-day event, and Apple is poised to secure U.S. streaming rights for Formula 1, outbidding ESPN.
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