Four major US banks are reporting third-quarter results on Tuesday, with investors focused on AI risks, higher borrowing costs and a slowdown in dealmaking.
01Summary
- 01JPMorgan Chase, Goldman Sachs, Wells Fargo and Citigroup are due to report before the market opens on Tuesday.
- 02Bank of America and Morgan Stanley will post earnings on Wednesday.
- 03Global investment banking revenue fell 6.6% year on year in the third quarter to $27.2 billion, according to Dealogic.
- 04The 10-year Treasury yield rose to about 5.3% by the end of September, its highest level in more than two decades.
- 05The S&P 500 Banks Index fell 5.4% during the third quarter, while the broader S&P 500 rose about 2.3%.
02Why it matters
The results will show how higher rates, weaker deal activity and AI-related risks are affecting some of the biggest lenders in the US. They could also move bank shares and shape expectations for credit, deposits and investment banking activity.
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