Big Bank Earnings Reports Come in Mixed, Their Stocks Retreat

Published on July 12, 2024

Several major U.S. banks reported mixed results in their quarterly earnings reports on July 12, with investors focusing on the misses, leading bank stocks to tumble. The second-quarter reporting season kicked off in earnest on Friday as financial giants JP Morgan Chase, Wells Fargo, and Citigroup all releasing their quarterly earnings reports, providing a snapshot of the health of the U.S. banking industry. Other banking giants Goldman Sachs, Bank of America, and Morgan Stanley are set to report their earnings next week. JP Morgan’s net income surged 25 percent from a year ago, to $18.15 billion, topping analysts’ expectations and notching the highest quarterly profit in the history of U.S. banking. Revenue rose 20 percent, to $50.2 billion, beating by far the 2.2 percent increase that analysts expected....

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Voter Turnout Lowest Since Universal Suffrage, Study Shows

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Amy Klobuchar Says She’s Cancer Free Again

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