3 stories on bank earnings from MarketRadar.
State Street's third-quarter revenue of $4.00 billion missed Wall Street's $4.034 billion forecast, and $62 billion in cash withdrawals erased most of its $68 billion in ETF inflows, sending shares down about 7% to $162.04 despite record $6.31 trillion in assets under management.
JPMorgan missed Q3 estimates while Goldman Sachs posted a massive beat, as four big US banks opened earnings season with wildly different scorecards. Equities trading soared; bond trading flopped.
Four of the six biggest US banks report Q3 results on October 13, with profits expected up to 20% higher from a year earlier — just as bank stocks sit 13% below their August peak.
