Big Banks Kick Off Earnings Season On Friday

Big bank stocks are set to kick of the newest earnings season on Friday. These include JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C), and Bank of America (BAC). "These finance companies will set the tone for the rest of the earnings reports. Earnings estimates are expected to be down 4.1% year-over-year for the entire fourth quarter. This is the first drop since the third quarter of 2020. Could the new earnings cause a stock market rally? Big bank balance sheets are robust now, so what does that mean for a potential recession? I am eager to hear what Jamie Dimon has to say," states Michael Zarembski.