The Q2 earnings season for banks is not looking good, with analysts cutting their earnings estimates for most banks.
Deposit costs are continuing to rise, which is part of the reason for the lower expectations for bank earnings (this is because banks have to pay more interest to depositors, which eats into their profits).
Rising credit risks for personal loans and credit card balances are also a concern (this could lead to more defaults on loans, which would hurt banks' profits).
Banks kick off Q2 earnings season this week, led by JPMorgan $JPM, Citi $C and Wells Fargo $WFC.
This information will be important because it provides insight into the health of the banking industry and the overall economy.
[link] [comments] https://www.reddit.com/r/stocks/comments/14zhy81/the_q2_earnings_season_for_banks_is_not_looking/
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