In Monday morning trading, expect stock markets to follow through from last Friday’s rebound. Two financial firms posted quarterly results.
Wells Fargo (WFC) reported revenue of $20.15 billion, down by 3.4% Y/Y. Earnings per share was $1.27. The firm posted a provision for credit losses of $932 million, thanks to lower allowance for commercial real estate loans.
Wells Fargo said that customers are taking a wait-and-see approach to the economic uncertainties ahead.
JPMorgan Chase (JPM) may end its downtrend that started in February. The firm earned $4.91 a share after revenue increased by 9.7% Y/Y to $46 billion. PCL was $3.3 billion, while net charge-offs increased by $376 million to $2.3 billion. JPM stock is a solid investment since 2025 will set up another incredible year for the bank. Investors may hold the bank despite turbulent policies from the U.S. government.
In the tech sector, JD.com (JD), a Chinese e-commerce firm, may overcome U.S. tariff troubles. The firm reportedly set up a $27 billion fund that will help Chinese exporters sell their products in the domestic market.
China must cut its exports to the U.S., fostering its local markets instead. Investors may watch Alibaba (BABA) and PDD (PDD), too. However, JD’s fund increases its potential growth over its peers.