Earnings season kicks off tonight, and JPM stumbled right out of the gate.
Q3 EPS came in at 5.57 and revenue at $50.9 billion—both below expectations. The stock was down as much as 4% premarket. Dimon’s warning stood out even more: another 1 percentage point rise in interest rates would deepen the pain for the U.S. financial system—yet traders are still betting on another 25 bps hike in December.
Goldman Sachs told a completely different story: net revenue of $18.68 billion, nearly $2 billion above expectations; equity trading up 72%, its second-best quarter on record. The more turbulent the markets, the sooner market makers cash in. Citi’s net income rose 40%, its best Q3 in a decade, but its stock still fell. Wells was lukewarm.
They all say consumers are holding up, but their actions tell the real story: they’re hoarding cash and watching interest rates. That’s also behind crypto’s risk-off mood over the past two days. CPI comes out tomorrow; we’ll see how it looks alongside tonight’s earnings and take it one step at a time.
#美股 #Market Analysis
Q3 EPS came in at 5.57 and revenue at $50.9 billion—both below expectations. The stock was down as much as 4% premarket. Dimon’s warning stood out even more: another 1 percentage point rise in interest rates would deepen the pain for the U.S. financial system—yet traders are still betting on another 25 bps hike in December.
Goldman Sachs told a completely different story: net revenue of $18.68 billion, nearly $2 billion above expectations; equity trading up 72%, its second-best quarter on record. The more turbulent the markets, the sooner market makers cash in. Citi’s net income rose 40%, its best Q3 in a decade, but its stock still fell. Wells was lukewarm.
They all say consumers are holding up, but their actions tell the real story: they’re hoarding cash and watching interest rates. That’s also behind crypto’s risk-off mood over the past two days. CPI comes out tomorrow; we’ll see how it looks alongside tonight’s earnings and take it one step at a time.
#美股 #Market Analysis