Will Bank of America, JPMorgan Chase, and Citigroup See Investment Banking Bounce Back in Q3?
Large U.S. bank stocks will formally kick off the third-quarter earnings season when JPMorgan Chase (NYSE: JPM) and Citigroup (NYSE: C) report their results tomorrow morning.
All eyes will be on the large banks as investors try to gain further clarity into how the economy is doing, with many fearing a more severe recession on the horizon. Investors will also be trying to get a read on how the U.S. consumer is holding up. Lastly, results and guidance from management could lead to revisions on future earnings projections, which could impact stock prices.
While the higher-rate environment is expected to boost revenue in banks' lending and securities businesses, it has been a big headwind on investment banking. Will this trend continue for JPMorgan, Citigroup, and Bank of America (NYSE: BAC) in their third-quarter earnings reports? Let's take a look.
Source Fool.com
