The third-quarter earnings season for U.S. banks will officially kick off this Friday, with major financial institutions like JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo Corp. (NYSE:WFC), and Bank of New York Mellon Corp. (NYSE:BK) set to report their results.
The following Tuesday will see additional earnings releases from mega-cap players such as Bank of America Corp. (NYSE:BAC), Goldman Sachs Inc. (NYSE:GS), and Citigroup Inc. (NYSE:C), as well as some regional banks.
Banking Sector Performance So Far In 2024
Chart: Benzinga Pro
Thus far, in 2024, the banking sector has shown strong performance. The Financial Select Sector SPDR Fund (NYSE:XLF), which tracks major financial stocks, has risen 21% year-to-date, matching the performance of the broader market as represented by the SPDR S&P 500 ETF Trust (NYSE:SPY).
However, regional banks have lagged behind their larger counterparts. The SPDR S&P Regional Banking ETF (NYSE:KRE) is up just 6% year-to-date, though it has outperformed over the past three months. This recent rebound is largely due to falling inflation and increasing expectations of Federal Reserve interest ...
