hit. That will offer a jolt to their income in the first three months of the year.
JPMorgan Chase & Co., Wells Fargo & Co. and Goldman Sachs Group Inc. will disclose financial results on Wednesday. Bank of America Corp. and Citigroup Inc. report Thursday and Morgan Stanley follows on Friday. Analysts forecast that all of them will post first-quarter profits that are far above year-earlier levels.. The KBW Nasdaq Bank Index, which tracks shares of the largest lenders, is up 27% so far this year, nearly triple the gains of the S&P 500.
Banks are seen as proxies for the health of the U.S. economy. Their shares were in the doldrums around this time last year, when global commerce ground to a halt. But over the past few months, the stocks have bounced back. The index returned to a record in March, topping its prior high from 2007.
All while charging more fees and fines while jacking the interest rates up on consumers during a low levels for them.
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