US Banking Heavyweights Set To Release Q2 Results: What To Watch For
Portfolio Pulse from Piero Cingari
Major US banks are set to release their Q2 results on July 14 and 17. The top performers in Q2 were Wells Fargo, JP Morgan, and Charles Schwab, while Morgan Stanley and Citigroup lagged behind. The financial sector, tracked by the Financial Select Sector SPDR Fund, posted a 5.44% gain, while regional banks saw a 4.8% decline. Investors should monitor the impact of rising deposit rates, credit normalization, and the aftermath of the regional bank crisis in March. All 23 large US banks passed the Federal Reserve's stress tests last month.
July 11, 2023 | 6:20 pm
News sentiment analysis
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NEGATIVE IMPACT
Citigroup is set to release its Q2 results, with a forecasted EPS decrease of 37.44% and revenue decrease of 0.25%. It was one of the laggards in Q2.
Citigroup's poor performance in Q2 and negative forecast for its earnings and revenue suggest a negative short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Goldman Sachs is set to release its Q2 results, with a forecasted EPS decrease of 52.55% and revenue decrease of 12.30%.
Goldman Sachs's negative forecast for its earnings and revenue suggest a negative short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The SPDR Regional Banking ETF saw a decline of 4.8% in Q2, despite a considerable rebound starting in May.
The decline in the SPDR Regional Banking ETF in Q2 suggests a negative short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Morgan Stanley is set to release its Q2 results, with a forecasted EPS decrease of 4.86% and revenue decrease of 7.33%. It was one of the laggards in Q2.
Morgan Stanley's poor performance in Q2 and negative forecast for its earnings and revenue suggest a negative short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
BlackRock is set to release its Q2 results, with a forecasted EPS increase of 14.54% and revenue decrease of 1.10%.
BlackRock's mixed forecast for its earnings and revenue suggest a neutral short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Charles Schwab is set to release its Q2 results, with a forecasted EPS decrease of 24.74% and revenue decrease of 11.22%. It was one of the top performers in Q2.
Despite Charles Schwab's strong performance in Q2, its negative forecast for its earnings and revenue suggest a neutral short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bank of America is set to release its Q2 results, with a forecasted EPS increase of 15.07% and revenue increase of 10.72%.
Bank of America's positive forecast for its earnings and revenue suggest a positive short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
JP Morgan is set to release its Q2 results, with a forecasted EPS increase of 43.48% and revenue increase of 27.44%. It was one of the top performers in Q2.
JP Morgan's strong performance in Q2 and positive forecast for its earnings and revenue suggest a positive short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Invesco QQQ Trust saw a strong rally in May and June.
The strong rally in the Invesco QQQ Trust in May and June suggests a positive short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust saw a strong rally in May and June.
The strong rally in the SPDR S&P 500 ETF Trust in May and June suggests a positive short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
State Street Corp is set to release its Q2 results, with a forecasted EPS increase of 8.76% and revenue increase of 6.44%.
State Street Corp's positive forecast for its earnings and revenue suggest a positive short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Wells Fargo is set to release its Q2 results, with a forecasted EPS increase of 43.90% and revenue increase of 18.03%. It was the top performer in Q2.
Wells Fargo's strong performance in Q2 and positive forecast for its earnings and revenue suggest a positive short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Financial Select Sector SPDR Fund posted a 5.44% gain in Q2.
The gain in the Financial Select Sector SPDR Fund in Q2 suggests a positive short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50