Big bank stocks slide as executives temper earnings and digest less onerous capital increases
Published On Sep 10, 2024, 5:12 PM
Big bank stocks, including JPMorgan Chase, Bank of America, Citigroup, and Goldman Sachs, saw declines amidst cautionary earnings outlooks despite a less onerous capital requirement proposal by U.S. regulators. Executives expressed concerns about future earnings and the impact of trading revenues. Investment banking fees are expected to remain flat, and credit costs are projected to rise for some banks. Analyst sentiment suggests potential over-optimism regarding earnings growth in 2025.