J.P Morgan is soaring on earnings, and its rivals won't be able to catch up, says expert

div > div.group > p:first-child"> Financial giants J.P. Morgan and Wells Fargo kicked off earnings season on Friday, both issuing better-than-expected results. But while J.P. Morgan's stock soared nearly 5%, Wells Fargo's stock slid, ending the day almost 3% lower.

"J.P. Morgan has set an unbelievable tone," Quint Tatro, managing director of Joule Financial, said Friday."I think we're going to see that from more of the consumer-focused banks, but I don't think that they're going to reach nearly the levels that J.P. Morgan did. I mean, they're firing on all cylinders."

So, while Tatro wasn't totally bearish on Wells Fargo's prospects, calling it"fine from a dividend standpoint," he had a clear winner in mind. While the space's other major players, including Goldman Sachs and Citigroup, are reaching what the technician called"very interesting inflection points" that could serve as launching pads for their stocks, one in particular stood out to him as the most promising.

TradingNation Cuz feds got jpm’s back.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: Boeing, Wells Fargo, Morgan Stanley, GE & moreSome of the names on the move ahead of the open.
Source: CNBC - 🏆 12. / 72 Read more »

Morgan Stanley: Wall Street is wrong, there will be an earnings recession this yearMorgan Stanley is calling for a full-blown earnings recession, while many other analysts see one negative quarter and a return to positive profit growth by the second quarter. Bullish Retail investors IRL Yep they said the same in 2008 , the market is fake and being propped up by banks , no way is the economy at 26,000 on the Dow especially when the White House is Calling for Q4 and a cut , they know what earnings are coming
Source: CNBC - 🏆 12. / 72 Read more »

MORGAN STANLEY: This earnings season is the 'moment of truth' for stocks. Here's why the signs are pointing to a major disappointment for investors.Morgan Stanley's top US equity strategist says investors want signs of improving earnings growth, and thinks the market is poised for disappointment. Lambs sport in the field. Has the fighting stopped yet?
Source: BusinessInsider - 🏆 729. / 51 Read more »