Investors will want to hear executives' insights into the health of the economy and if borrowers are "more shaky now," Ware said.
While data on Friday showed the U.S. economy added more jobs than expected in June, it could still be on the verge of a recession. Gross domestic product contracted in the first quarter, with tepid consumer spending and manufacturing readings in the last two weeks.Last month, JPMorgan CEO Jamie Dimon warned of an economic "hurricane," while Morgan Stanley CEO James Gorman has said there is a 50% chance of a recession.
As a result, the banks' bottom lines will look worse than their underlying businesses. Pre-provision, pre-tax profits for the big four will be down only 7%, according to estimates by analysts led by Jason Goldberg at Barclays. But bank executives have said more loans will go bad. Analysts will press the banks for clues on the timing and magnitude and how much they might eventually offset gains in net interest income - the difference between banks' cost of funds and the interest they receive.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
San Diego police officer departures should be a big concern\r\n\r\nSan Diego cannot allow itself to descend into chaos similar to Los Angeles, San Francisco, Portland or Seattle.
Source: sdut - 🏆 5. / 95 Read more »
Xiaomi 12 Lite announced – big, yet light, with flagship specs for a mid-range priceToday Xiaomi is announcing a new upper mid-ranger in its 12 series – the Xiaomi 12 Lite. The phone combines a featherweight, slim design, yet with a large 6.55-inch display. The successor to the Mi 11 lite
Source: PhoneArena - 🏆 322. / 59 Read more »
Local Opinion: Ducey's big lie on benefits of private educationOPINION: 'As someone who has just finished her 49th year in public education, I agree with Ducey that every family should have access to high-quality education with dedicated teachers. The implied message in his statement is that private schools succeed… Privatizing taxpayer-funded services is a great way to increase your wealth if you’re an immoral politician. Just disparage & defund a government entity, invest in a private business that will take over, then divert taxpayer money to the business you’re invested in. Profits.
Source: TucsonStar - 🏆 339. / 59 Read more »
Pa. lawmakers agreed to a big election funding deal — with strings attachedCounty elections officials have mixed reactions to the legislation, which creates grants but doesn't allow counties to get the jump on counting mail ballots — an ongoing priority. They can’t do anything right. More money but harder for poll workers. Entrails of the big lie are everywhere Let’s see these legislators lead by example - no breaks until all the work for PA is complete. Let’s start easy - do that for a week and then let’s talk about election workers.
Source: PennLive - 🏆 463. / 53 Read more »
Increased liability, scrutiny over police officers’ actions has some second-guessing their decisionsAn active shooter training specialist who has worked with some Texas law enforcement agencies says there’s plenty of blame to go around following the Uvalde school massacre, including politicians and the public who have been scrutinizing decisions made by police in recent years. Politicians. Law enforcement. The media. The public. But not a word of blame toward the **ease of obtaining the AR-15**, from that DoD contractor. Not a word on the muthafuckin shooter. Guns don’t kill people, people kill people.
Source: ksatnews - 🏆 442. / 53 Read more »
A Big Flashing Signal That Goods Could Get Cheaper SoonHow do you fix a screwed up economy? Start with shipping containers.
Source: Slate - 🏆 716. / 51 Read more »