Big Bank Earnings Send Wall Street Lower Friday
The stock market has had a tumultuous week, and the volatility looked like it would continue on Friday. As of 8:30 a.m. ET, Dow Jones Industrial Average (DJINDICES: ^DJI) futures were down 205 points to 35,784. S&P 500 (SNPINDEX: ^GSPC) futures had lost 30 points to 4,622, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were off 136 points to 15,355.
One of the groups of companies that often report their earnings first each quarter is the banking industry, and Friday brought a couple of key reports that helped investors get some clarity on how the industry is likely to do in 2022. JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) both gave their latest financial updates, sending their stocks moving in different directions. Let's take a closer look at what the two big banks had to say to see what their respective differences are signaling for how the various parts of the financial sector have been performing lately.
Image source: Getty Images.
Source Fool.com
