The banking giants JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) will release its fourth-quarter results on Friday before the bell. All three banking stocks closed higher on Thursday ahead of the earnings announcement.
JPMorgan shares climbed to a fresh all-time high of $142 this week and on Thursday, the stock closed at $141.17.
Among the other two big banks, the investors will closely monitor the financial results of Wells Fargo because WFC was the one bank whose results disappointed Wall Street on the first day of Q3 earnings season. Meanwhile, both JPMorgan and Citi reported better than expected trading results in Q3, so investors are looking to see if that continued in Q4.
Other banks including Goldman Sachs Group Inc (NYSE: GS) and Bank of America Corp (NYSE: BAC) are both scheduled to report earnings on Jan. 19. Morgan Stanley (NYSE: MS) plans to announce its fourth-quarter financial results on Wednesday, Jan. 20.
Fourth-quarter earnings season kicks off on Thursday with better -than – expected results from the investment firm BlackRock (NYSE: BLK). "We begin 2021 well-positioned and intend to keep investing in our business to drive long-term growth and to lead the evolution of the asset management industry," BlackRock's CEO, Larry Fink, said. While BlackRock's shares closed 4% lower after the stock hit a record high on Wednesday.
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