In This Article:
Big bank stocks, including JPMorgan (JPM), Citigroup (C), and Goldman Sachs (GS), have tumbled in the wake of President Trump's tariff announcements.
Yahoo Finance Banking Reporter David Hollerith joins Market Domination with Yahoo Finance Head of News Myles Udland, RSM chief economist Joe Brusuelas, and Epistrophy Capital Research's chief market strategist and host of "The Drill Down Podcast" Cory Johnson to discuss the details.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
Well, big bank stocks have been taking a hit amid these tariff woes and concerns over the potential global impacts. This coming just a few days before big banks are set to report their first quarter earnings results. Yahoo Finance's David Hallow joins us now to talk more about all of that. Dave, let's just start with what we've seen from the majors in the last few days. Again, we're one week out from hearing from, what I guess it'd be JP, Bank of America, a few others on Friday.
Right. Yeah, um this week, you know, it hasn't closed quite yet, but we're looking at about a 12% to 16% drop for all the big banks across the board so.
Wow.
It's a wow. That's wow. It's a technical term.
It's a wow.
Well, you say wow until this week. It's kind of part for the course this week.
I'm trying to spell that this weekend.
Um, and so the results we're actually looking at that begin Friday when JP Morgan, Wells Fargo and Morgan Stanley report aren't actually expected to look that bad. Uh, if you just go a little bit wider to the banking industry in general, KBW actually has about a 3% rise in bank earnings year over year, which is not bad. And so really, the issue and all the focus for earnings is going to be around guidance and what they're going to, what bank executives are going to say, and that's going to be particularly tough because at this point no one really knows, you know, what they're, what they can guide to. Um, but we're what we're hoping for is um, whether or not they can hold on to their guidance for their net interest income, which is where the bulk of their revenue comes from.
