Let the fun begin. JPMorgan Chase (JPM) and Wells Fargo (WFC), the No. 1 and No. 2 U.S. banks by market cap respectively, kick off fourth-quarter financial earnings tomorrow morning before the market opens.
Both stocks were up last year, though only one beat the market. JPMorgan returned 27%, versus the S&P 500’s 22% return; Wells Fargo was up 13% in 2017. The Financial Select Sector SPDR ETF (XLF) rose 22%.
For the fourth quarter, analysts expect JPMorgan to report earnings per share of $1.69 on $25.5 billion in revenue, according to Bloomberg. The fourth-quarter consensus for Wells Fargo is EPS of $1.02 and $22.4 billion in revenue.
Here are the key questions leading into the big reports: