Must Read: 3 Big Banks Release Their Q2 Results… Should You Buy?

Let's dig into the numbers…

July 13, 2024 3 Big Banks Release Their Q2 Results... Should You Buy? Dear Reader, Folks, the second-quarter earnings season is finally here… and it’s shaping up to be a good one. As I mentioned in Friday’s Market 360, FactSet projects the S&P 500 will achieve earnings growth of 9.3% in the second quarter and 4.8% revenue growth. If the actual growth rate is 9.3%, it would not only be the fourth-consecutive quarter of year-over-year earnings growth, but also the highest year-over-year earnings growth rate since the first quarter of 2022. Three of the big banks - Citigroup Inc. (C), JPMorgan Chase & Co. (JPM) and Wells Fargo & Company (WFC) – marked the official start of earnings season with their second-quarter earnings reports yesterday morning. Last week, FactSet expected the Financial sector  to post 4.3% earnings growth, but the Banks industry was anticipated to post a 10% earnings decline. Excluding the Banks industry, the Financial sector’s expected earnings growth rate was 14.8%. Following their results, the Financial sector is now forecast to achieve 10.7% earnings growth in the second quarter, with the Banks industry expected to report 7% earnings growth. This is a significant earnings revision, so let’s use today’s Market 360 to review Citigroup’s, JPMorgan Chase’s and Wells Fargo’s to review their quarterly numbers. I’ll also share if they are good buys right now. And then, I’ll reveal how you can prepare for an incoming financial wave that could shock the market (hint: it has nothing to do with earnings). Citigroup Inc. (C) Citigroup announced earnings of $1.52 per share on $20.14 billion in revenue, topping estimates of $1.39 per share and $20.07 billion in revenue. This compares to earnings of $1.33 per share and $19.4 billion in revenue in the same quarter a year ago. Banking revenues jumped 38% to $1.6 billion, thanks in part to the strength in Banking and Corporate Lending. Investment Banking revenue increased 60% year-over-year to $853 million due to investment grade bond issuance, while Corporate Lending rose 7% to $756 million, excluding mark-to-market on loan hedges. CEO Jane Fraser noted in the earnings press release: Our results show the progress we are making in executing our strategy and the benefit of our diversified business model… Markets had a strong finish to the quarter leading to better performance than we had anticipated… The recent stress tests again showcased strength on our balance sheet… We will continue to execute our transformation and our strategy so we can meet our medium-term targets and continue to further improve our returns over time. Although shares of Citigroup opened higher following the earnings report, they turned lower in afternoon trading.   SPONSORED AD Warning for the Next 30 Days: AI Bubble about to Pop? Are AI stocks a bubble ready to pop?   Is it too late to buy Nvidia?   Or is this AI boom just getting started?  Click here to see the answers from the legendary trader who predicted the rise of AI in early 2019…   And gave his readers a chance to turn $10,000 into as much as $325,000 in shares of Nvidia. Click here.   JPMorgan Chase & Co. (JPM) JPMorgan reported adjusted earnings of $4.40 per share on $50.2 billion in revenue. Analysts were calling for earnings of $4.19 per share and revenue of $49.87 billion, so the bank beat estimates on both the top and bottom lines. Banking & Wealth Management slipped 5% to $10.4 billion, while Markets & Securities Services revenue increased 8% to $9 billion and Markets revenue climbed 10% to $7.8 billion. Investment Banking fees surged 50%. JPMorgan Chase CEO Jamie Dimon also provided comments on the U.S. economy and inflation. Regarding the economy, he said: While market valuations and credit spreads seem to reflect a rather benign economic outlook, we continue to be vigilant about potential tail risks. These tail risks are the same ones that we have mentioned before. The geopolitical situation remains complex and potentially the most dangerous since World War II – though its outcome and effect on the global economy remain unknown. As for inflation, Dimon commented: Next, there has been some progress bringing inflation down, but there are still multiple inflationary forces in front of us: large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world. Therefore, inflation and interest rates may stay higher than the market expects. And finally, we still do not know the full effects of quantitative tightening on this scale. JPMorgan is sticking to its full-year net interest income forecast of $91 billion, excluding trade revenue. JPM shares fell more than 2% in early trading on the heels of the report. Wells Fargo & Company (WFC) Wells Fargo reported earnings of $1.33 per share on $20.69 in revenue. Analysts were expecting $1.29 earnings per share on $20.29 billion in revenue. Consumer Banking and Lending revenue declined 5% to $9 billion, Commercial Banking fell 7% to $3.1 billion, while Corporate and Investment Banking rose 4% to $4.8 billion. More important, net income declined 9% year-over-year to $11.92 billion, below analysts’ estimates for $12.12 billion. CEO Charlie Scharf expects net income to improve. In the Citigroup earnings press release he said: We continued to see growth in our fee-based revenue offsetting an expected decline in net interest income. The investments we have been making allowed us to take advantage of the market activity in the quarter with strong performance in investment advisory, trading, and investment banking fees. Wells Fargo also maintained its net income outlook for 2024. It expects net income to decline 7% to 9% to $52.4 billion. Shares of Wells Fargo fell more than 5% on Friday. Are These Banks Buys? Even though Citigroup, JPMorgan Chase and Wells Fargo all beat earnings and revenue estimates, I would not view them as buys. If you’re a longtime reader of mine, you know I’m not a big fan of the “big banks.” That’s because I am an ex-banking regulator and I know they sometimes play fast and loose with their numbers.   SPONSORED AD Dot-Com Crash 2.0 America’s Dot-Com Crash 2.0 is HERE. Soon — America’s most popular stocks like: Nvidia, Apple, Meta, Tesla, and thousands more… Could come plummeting back to Earth… Erasing years of investor profits…   Sparking a $17 trillion panic on Main Street...  And this is why the world's wealthiest investors are rushing for the exits. Jeff Bezos, Warren Buffett, Mark Zuckerberg, "The Walmart Family," and 27 other billionaires are unloading shares of their OWN companies at record pace... So, if you have any money in the markets, it’s time to prepare.   Because the stakes of the: "Dot-Com Crash 2.0" — is 3X BIGGER than last time.   Click here for details.   Back in the late 1970s and early 1980s, when the yield curve was severely inverted, I used to merge two money-losing financial institutions together so they could qualify for FSLIC or FDIC insurance. Essentially, I would take the largest financial institution and merge it into the smaller one, but would re-amortize its assets (e.g., loan portfolio) to make the combined financial institution look better. Even though I could never fix the combined financial institution’s cash flow, I helped them kick the can down the road, since an inverted yield curve is lethal for banks. In other words, I used to put lipstick on a pig. My experience scarred me for life, which is why I rarely recommend banks. The Incoming Financial Wave While Wall Street will likely be mostly focused on earnings over the next six weeks, there’s another financial tidal wave coming that could rock the stock market. When it makes landfall, its impact will be more violent and more severe than any financial crisis we’ve ever seen. The tidal wave that’s set to wreck our economy is due to artificial intelligence. So, how can you survive? Some might think the best way to survive this tsunami is by moving off the grid or buying gold. But the reality is the way to protect yourself is by investing. Owning stock in world-class companies has always been – and will continue to be – an essential stronghold in times of technological change. The stock market is the only place I know that allows you to align yourself with innovators, entrepreneurs and wealthy corporations gaining a critical early foothold in these new technologies. In other words, it’s time to go stock picking – and I have found nine world-class AI- and quantum computing-related stocks that are great buys now. Click here to learn how you can access this exclusive portfolio of stocks. (Already a Growth Investor subscriber? Click here to log in to the members-only website.) Sincerely, Louis Navellier Editor, Market360

Manage your account We hope this timely investment research is valuable to you. As you know the markets move fast and conditions change frequently. So please check the current issue for the most recent advice. Please note that we cannot be liable for any missed bulletins caused by overzealous filters. To ensure that you continue to receive this valuable part of your service please take a moment to add (LouisNavellier@exct.Investorplace.com) to your address book. You can reach us at feedback@investorplace.com or by calling 1-800-219-8592. Have a question about your bill? Visit our billing FAQs. Too many emails? Click or tap Manage my subscription to unsubscribe from free newsletter emails or Unsubscribe from marketing to stop receiving marketing emails.   InvestorPlace Media LLC 1125 N. Charles St, Baltimore, MD 21201 Copyright 2024 All rights reserved.

Wall Street legend issues bold new Fed warning

Dear Reader,

It was the first domino to fall...

In March 2022, the Federal Reserve raised interest rates for the first time in five years.

It triggered a brutal bear market that wiped out $9 trillion of American wealth... and slashed the average investor's portfolio nearly in half.

Now, according to the man whom CNBC nicknamed "The Prophet," the Fed's next move is about to have a similar ripple effect on ordinary folks across America.

Whitney Tilson is a former hedge fund manager who's predicted just about every major stock market crash of the 21st century – from the dot-com crash of 2000... to the meme stock crash of 2021.

Today, he warns, "The Fed could soon trigger a massive stock market event... one they've triggered multiple times, going as far back as 1929."

" This event will likely dictate the next decade of every American's financial life, and it's critical that you take steps now to prepare ," he told me.

I recently sat down with Tilson and another top analyst to uncover the truth about what's really happening in the markets right now.

In this exclusive new interview , both experts have agreed to share – for free – their thoughts on exactly what you should do with your money today, before the Fed's next meeting.

Plus, you'll walk away with their No. 1 stock recommendation, free of charge, which could soar 500%-plus as this dramatic market event plays out.

Click here now to watch this exclusive interview – and get their No. 1 stock pick – for free.

Regards,

Kelly Brown
Senior Researcher, Stansberry Research

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Stop trading inflated options

Unlock the secret to stop playing the Market Makers’ games

We’re about to reveal to you one of the Wall Street elites’ biggest secrets… And how you could target what could be triple returns from a tiny move on a stock instead of playing the elites’ nonsense games with inflated options. Here’s a chart with Chipotle’s stock back in June, trading at $3,365 per share.   You’ll notice Wall Street’s Market Makers set the options price on the “expected move” premium at $3,420… Which means you’d need the stock to move $55 dollars in a week just to break even on the options. That’s a huge gap to fill in only a matter of a few days! However, expert trader Nate Tucci’s special Jump Trades uses a slight variation of the same secret strategy Wall Street uses… Which means he only needed Chipotle to gain around $15 that week to more than double his investment.   That’s only a 0.4% move in the stock, a fraction of the Market Makers’ “expected move.” And the day after he took a quick 60 seconds to place the Jump Trade, he hit his target for a double plus return!   Granted, there were smaller wins and those that did not work out and we can’t promise results or against losses, but not only could Jump Trades be the best way to break free of Wall Street’s inflated options game by targeting outsized gains on small moves on a stock… And as I write this, we’re already seeing nearly a triple on average on over 30 LIVE issued Jump Trades made with real money. For your chance to get in on the next Jump Trade before the end of the week… Targeting what could be another massive win… Join Nate and expert trader Graham Lindman for a FREE briefing on Tuesday, July 16th at 1 PM ET. See you there, Your friends at ProsperityPub Disclaimer: The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 12/2023 through 7/2024 the average return per trade of winners and losers is 95.8% in a 7 day holding time with a 56.7% win rate and an average winner of 237%.

We’re about to reveal to you one of the Wall Street elites’ biggest secrets…   And how you could target what could be triple returns from a tiny move on a stock instead of playing the elites’ nonsense games with inflated options.   Here’s a chart with Chipotle’s stock back in June, trading at $3,365 per share.   You’ll notice Wall Street’s Market Makers set the options price on the “expected move” premium at $3,420…   Which means you’d need the stock to move $55 dollars in a week just to break even on the options.   That’s a huge gap to fill in only a matter of a few days!   However, expert trader Nate Tucci’s special Jump Trades uses a slight variation of the same secret strategy Wall Street uses…   Which means he only needed Chipotle to gain around $15 that week to more than double his investment.   That’s only a 0.4% move in the stock, a fraction of the Market Makers’ “expected move.”   And the day after he took a quick 60 seconds to place the Jump Trade, he hit his target for a double plus return!   Granted, there were smaller wins and those that did not work out and we can’t promise results or against losses, but not only could Jump Trades be the best way to break free of Wall Street’s inflated options game by targeting outsized gains on small moves on a stock…   And as I write this, we’re already seeing nearly a triple on average on over 30 LIVE issued Jump Trades made with real money.   For your chance to get in on the next Jump Trade before the end of the week…   Targeting what could be another massive win…   Join Nate and expert trader Graham Lindman for a FREE briefing on Tuesday, July 16th at 1 PM ET.   See you there,   Your friends at ProsperityPub   Disclaimer: The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 12/2023 through 7/2024 the average return per trade of winners and losers is 95.8% in a 7 day holding time with a 56.7% win rate and an average winner of 237%.

ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions. Unsubscribe This email was sent to phanxuanhoa60.trade1357@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub

ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions. Unsubscribe This email was sent to phanxuanhoa60.trade1357@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub