What happened Many large bank -To The Moon - Tiger Brokers Online Investing Community - To The Moon

What happened

Many large bank stocks rose today after several banks presented strong earnings reports this morning, and as the market got some good news on interest rates.

Shares of the largest bank in the U.S. by assets, JPMorgan Chase (JPM 4.58%), rose more than 4.5% on Friday. Shares of Morgan Stanley (MS 4.50%) rose 4.5%, and Goldman Sachs (GS 4.36%) was up 4.3%.

So what

JPMorgan Chase reported earnings for the second quarter of the year on Thursday and saw its shares sell off after the bank missed analyst estimates for the quarter. Furthermore, JPMorgan said yesterday that it would suspend share repurchases for the time being as it builds capital to prepare for higher regulatory capital requirements in 2023 and 2024.

Morgan Stanley also reported earnings yesterday and struggled as investment-banking revenue came in lighter than expected. Investors hadn't been expecting a good quarter, considering that events such as initial public offerings have been very limited all year due to market volatility and uncertainty. Still, the bank missed estimates for investment-banking revenue.

For this reason, I don't think investors have had super-high expectations for Goldman Sachs, as it prepares for earnings Monday, considering its large investment banking business.

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Comments

Baaaaam
2022-07-16
Baaaaam
Isn’t Citigroup the only bank with positive earning? JPM was under.
crappylogo
2022-07-16
crappylogo
can we say the same for local banks? hopefully so..
Karma Rider
2022-07-16
Karma Rider
power啦
Anzygart
2022-07-16
Anzygart
Choose your horse carefully
SteadyDoesIt
2022-07-16
SteadyDoesIt
More to surprise, some to the downside
Junweicool
2022-07-16
Junweicool
Something positive

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