WFC Dec 2024 55.000 call
| Previous close | 4.53 |
| Open | 6.74 |
| Bid | 6.70 |
| Ask | 7.35 |
| Strike | 55.00 |
| Expiry date | 2024-12-20 |
| Day's range | 6.60 - 7.38 |
| Contract range | N/A |
| Volume | |
| Open interest | 6.25k |
- Yahoo Finance Video
How the Fed is creating value for the Big Banks: Portfolio mgr.
Major financial institutions — including JPMorgan (JPM) and Wells Fargo (WFC) — kicked off the third quarter earnings season this morning. While these banks outperformed expectations, the potential impact of future Federal Reserve rate cuts on these financial giants remains a key concern. Hennessy Funds portfolio manager David Ellison, joins Market Domination to share his outlook on the situation. Ellison notes that, fundamentally, bank earnings aligned with investor expectations. However, he emphasizes a significant shift: "The mathematics of the business is working in their favor for the first time in a while," as banks grow equity, buy back stocks, and see tangible book values increase. Furthermore, he points out that as banks like JPMorgan see their balance sheets expand, "the banks are becoming a much bigger part of how the Fed is going to fund the government," which creates additional value for these major financial institutions. "Those are the things that I see: the Fed is shrinking, the banks are getting bigger, and because of that, they're becoming more important and more profitable," Ellison tells Yahoo Finance. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Angel Smith
Yahoo FinanceJPMorgan touts 'soft landing' possibility after better-than-feared earnings
Profits at JPMorgan and Wells Fargo both fell from the year-ago period, but those declines were less than what analysts expected.
Barrons.comJPMorgan and Wells Fargo Earnings Show the U.S. Economy’s 2 Realities
The first batch of the biggest U.S. lenders’ quarterly earnings reflected two realities of an economy that is on solid footing but just starting to exit a period of decades-high interest rates: Consumer spending is holding up, while demand for loans remains notably weak. While JPMorgan Chase and Wells Fargo both posted drops in profits from a year ago as part of their third-quarter earnings results on Friday, analysts had forecast larger declines.
