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US Bank Earnings Exceeded Low Market Estimates

On Friday night JP Morgan, Citi and Wells Fargo all reported.

Wells Fargo’s profit dropped for a fourth straight quarter. JP Morgan and Citi beat low expectations, as strength in bond trading volumes picked up in the third quarter.

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Citi Group outperformed expectations for third-quarter net profit after trading revenue surged 35 percent. Net income exceeded market expectations, (although fell 11%), coming in at $1.24 per share.

Citi Group (C.NYS)

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Well Fargo (WFC.NYS)

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JP Morgan (JPM.NYS)

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Investors will focus this week on the upcoming earnings results for  Goldman Sachs and Morgan Stanley.

Dow Jones

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In this month’s market strategy recording, we looked at the key levels in the S&P500 and the Dow Jones, with a focus on old resistance becoming new support. S&p500 earnings need to deliver on average, $30 – $32 per share to meet market expectations.

If you missed the recording this month, please sign up at www.investorsignals.com

 

 

 

 

 

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