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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Anand Chokkavelu owns 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 services have recommended buying shares of Goldman Sachs. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.