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Markets digest bank earnings after recent turmoil

First-quarter earnings for companies in the S&P 500 kick off this week, and economists are predicting the biggest earnings decline since the onset of the pandemic.

· 120 words· updated April 14, 2023 at 08:04 PM
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023.

Wall Street heavyweight JPMorgan Chase reported record sales, with Citigroup, Wells Fargo, BlackRock and PNC Financial also reporting strong first-quarter earnings. They’re the first bank earnings reports since Silicon Valley Bank and Signature Bank failed last month.

The latest retail sales data came in weaker than expected , a potential sign that the economy is taking a turn for the worse. Investors will also get a look at consumer sentiment from the University of Michigan survey.

First-quarter earnings for S&P 500 companies kick off this week, and economists are predicting the biggest earnings decline since the onset of the pandemic.

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