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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