Big-bank earnings season kicked off before the opening bell on Friday, as both JPMorgan Chase and Wells Fargo reported earnings.
Within the span of a week, all six major U.S. banks (JPMorgan, Wells, Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley) will have reported.
Both JPMorgan and Wells beat analyst earnings estimates, but each is a rather unique situation and may not be indicative of the other four banks.
Anand explains in the following video.
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At the time thisarticle was published Anand Chokkaveluowns shares of Bank of America, Citigroup, Wells Fargo, and JPMorgan Chase. He also owns long-dated options on Bank of America and warrants on Citigroup, Wells Fargo, and JPMorgan Chase. The Motley Fool owns shares of JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup and has created a covered strangle position in Wells Fargo.Motley Fool newsletter serviceshave recommended buying shares of Goldman Sachs. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
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