About this episode

The episode discusses the recent earnings reports of major U.S. banks, highlighting their performance against Wall Street expectations.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.  Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, recaps U.S bank earnings. JPMorgan Chase & Co. reported its highest quarterly profit ever, with a long-held Visa Inc. stake paying off to the tune of $4.6 billion. Goldman Sachs Group Inc. posted $7.42 billion for a quarter with record results in its equities unit, driven by financing and taking profit in arranging bets. Bank of America Corp.'s stock traders notched a record during the second quarter, benefiting from market volatility, while its investment bankers capitalized on a dealmaking resurgence. Wells Fargo & Co. reported second-quarter earnings that beat Wall Street estimates on higher fees from wealth management and investment banking. Citigroup Inc.'s key business lines surpassed Wall Street's expectations, although the bank's record haul in stock trading fell short of the growth posted by rivals. See omnystudio.com/listener for privacy information.

People in this episode

Hosts: Paul Sweeney, Scarlet Fu

Guest: Herman Chan

Topics covered

• US bank earnings
• financial analysis
• Wall Street expectations
• quarterly profits
• investment banking
• market volatility

Keywords

• US banks
• earnings report
• JPMorgan
• Goldman Sachs
• Bank of America
• Wells Fargo
• Citigroup
• financial results
• investment banking
• market volatility

Mentioned in this episode

Organizations: JPMorgan Chase & Co., Visa Inc., Goldman Sachs Group Inc., Bank of America Corp., Wells Fargo & Co., Citigroup Inc.

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