Financials Down After Mixed Earnings - Financials Roundup
Shares of banks and other financial institutions ticked down after a mixed round of earnings.
Shares of JPMorgan, the largest U.S. back by assets, fell slightly after it posted third-quarter earnings growth shy of Wall Street expectations, and warned of moderating investment-banking activity. JPMorgan Chief Executive Jamie Dimon said the bank was tightening underwriting.
Wells Fargo shares fell after the commercial lender posted revenue shy of analysts' targets.
"Inflation and higher interest rates continue to be headwinds, and the longer they persist, the more pressure they could place on both consumers and commercial clients," said Wells Fargo Chief Executive Charlie Scharf.
Rising interest rates are a double-edged sword for banks as they typically bolster profit margins on loans but can also slow demand.
Goldman Sachs shares ticked up after third-quarter earnings and revenue growth topped expectations, bolstered by a bonanza in equity trading.
Shares of Citigroup declined after its equity-trading desk performance trailed Goldman's.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 13, 2026 17:22 ET (21:22 GMT)
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