NewsFeeder
Headline News
- Reaction score
- 4
Big banks to report first quarter results with lowered expectations
Investors will focus on falling profits, a more dovish Federal Reserve and lower interest rates as major U.S. banks kick off what analysts expect to be the first quarter of contracting corporate earnings since 2016. Citigroup Inc and Goldman Sachs Group Inc will report the following Monday, followed by Bank of America Corp and Morgan Stanley on Tuesday. In the wake of the Federal Reserve's cautious shift due to signs of softness in the U.S. economy and the subsequent drop in 10-year Treasury yields, S&P 500 banks are seen posting year-on-year first-quarter earnings growth of 2.3%, down from 8.2% forecast six months ago, according to Refinitiv data.
https://finance.yahoo.com/news/big-banks-report-first-quarter-160755183.html?.tsrc=rss
Investors will focus on falling profits, a more dovish Federal Reserve and lower interest rates as major U.S. banks kick off what analysts expect to be the first quarter of contracting corporate earnings since 2016. Citigroup Inc and Goldman Sachs Group Inc will report the following Monday, followed by Bank of America Corp and Morgan Stanley on Tuesday. In the wake of the Federal Reserve's cautious shift due to signs of softness in the U.S. economy and the subsequent drop in 10-year Treasury yields, S&P 500 banks are seen posting year-on-year first-quarter earnings growth of 2.3%, down from 8.2% forecast six months ago, according to Refinitiv data.
https://finance.yahoo.com/news/big-banks-report-first-quarter-160755183.html?.tsrc=rss
