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4 trends to watch this bank earnings season
  + stars: | 2024-10-09 | by ( Kaja Whitehouse | ) www.businessinsider.com   time to read: +6 min
Expect lots of questions about how lower rates will affect business going forward. JPMorgan and Wells Fargo will kick off earnings on Friday, followed by Goldman Sachs, Citi, and Bank of America on Tuesday. Related storiesHere are the top four things to look for this bank earnings season. AdvertisementGoldman Sachs CEO David Solomon described a "more challenging macro environment, particularly in the month of August," and said the bank's trading business was "trending down close to 10%." In good news, the compensation expert Johnson Associates sees bonuses up this year across the board, an analysis that's reflected in part of Wall Street's earnings results so far this year.
Persons: Wells Fargo, , Daniel Pinto, Wells, Goldman Sachs, Morgan Stanley, What's, David Solomon, Solomon, Pinto, Banks, Johnson Organizations: JPMorgan, Service, JPMorgan Chase, Federal Reserve, Citi, Bank of America, Investment, LSEG, Renaissance, Barclays Financial Services Conference, Lending, Fed, Wall, Barclays
A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Sept 11 (Reuters) - Investment banking fees are down 30% to 35% in the third quarter from a year earlier for the sector, but Bank of America (BAC.N) will fare better than that average, its chief financial officer said on Monday. "We'll do slightly better than that," Alastair Borthwick told the Barclays Financial Services Conference, referring to investment banking fees for the industry. BofA in July posted strong gains for investment banking in the second quarter with net income surging 76% to $2.7 billion. Reporting by Saeed Azhar and Pritam Biswas; editing by Jonathan Oatis and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, Alastair Borthwick, BofA, Saeed Azhar, Pritam Biswas, Jonathan Oatis, Deepa Babington Organizations: Bank of America, REUTERS, Investment, Barclays Financial Services, Thomson Locations: Manhattan, New York City , New York, U.S
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