- Citigroup, Goldman Sachs, JPMorgan and Wells Fargo reported Q3 results on Oct 13, 2026, kicking off US bank earnings season.
- JPMorgan, Citigroup and Wells Fargo set a fresh record for how much they earned from lending, per Bloomberg coverage of the results.
- The KBW Bank Index fell around 12% from a mid-August peak, past the 10% threshold for a technical correction, ahead of the reports.
- Fixed income sales and trading is the focus of the results, according to Christopher McGratty, head of US bank research at KBW.
- A chip selloff extended for another day, adding pressure to equity markets before the bank reports.
Quotes
“Big US banking stocks, meanwhile, are firmly in correction territory”