What We Learned From Big Bank Earnings Friday
Citi(C) Investopedia·2024-07-13 06:20
Mixed results from large U.S. banks kicked off the financial world's second-quarter earnings season.As the focus remains on potential Federal Reserve rate cuts, high interest rates remain an income hurdle for banks.Meanwhile, the big banks' profit statements exhibit growing concern about a cooling economy. Earnings at two of the three large U.S. banks that traditionally launch the financial sector's quarterly earnings season exceeded investors' expectations Friday. But their income statements revealed the o ...