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-0.000967846004946805 -0.00404037300477786 0.00102929654494328 0.00442136635275689 0.00302643909483359 -0.00419399935476927 -0.0240117985036794 -0.0109535587543975
Stock impact report

US bank earnings likely to be overshadowed by recession concerns [Yahoo! Finance]

Wells Fargo & Company (WFC) 
Last wells fargo & company earnings: 4/14 07:46 am Check Earnings Report
US:NYSE Investor Relations: wellsfargo.com/about/investor-relations
Company Research Source: Yahoo! Finance
the economy after President Donald Trump unveiled steep tariffs and triggered a market selloff. Mike Mayo, an analyst at Wells Fargo, said the largest effect of the tariffs in the coming quarters "will be higher reserves for loan losses as the odds of recession rise." Banks will probably set aside billions of dollars to cover potential loan defaults over the coming quarters. Loan losses will probably jump this year because recently updated accounting rules require lenders to account for losses over the full terms of the loans. JPMorgan Chase, Citigroup and Wells Fargo will kick off results on Friday. JPMorgan's CEO Jamie Dimon has warned that trade wars could have lasting negative consequences, including inflation and recession. "Banks are a reflection of the economy -- if the economy worsens, their results will follow," said Stephen Biggar, director of financial institutions at Argus Research. On top of more reserves to cover losses on existing loans, Biggar expects banks t Show less Read more
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