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Wednesday’s earnings from Wells Fargo could foreshadow banks’ numbers

August 5, 2023
in Trade Tube
Reading Time: 1 min read
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It’s time for fourth quarter earnings, and Wells Fargo is looking to close out a big year with more gains. A boost of 15 percent on markets put Wells Fargo among the top banks in the U.S., but headwinds including lower trading revenue could finally trip the company up after a year’s worth of reports meeting or beating estimates. Over the course of the week, competitors including J.P. Morgan and U.S. Bancorp will also announce numbers, but the strength of Wells Fargo’s mortgage lending business could catapult it past competitors. If not, it still has 2015 to make gains, which analysts expect.

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