• JPMorgan misses 4th-quarter profit estimates as bond trading slumps JPMorgan Chase missed profit estimates for the fourth quarter as a slump in bond trading revenue overpowered strong consumer loan growth and record revenues.
• As loans and revenue shrink, Wells Fargo leans on cost cutsWells Fargo’s loan book shrank and revenue fell across all its major businesses last quarter, as the fourth-largest U.S. lender continued to work through the consequences of wayward sales practices at its consumer bank.
TODAY
• Goldman Sachs Group Inc is expected to report a fall in fourth-quarter revenue, compared to the third quarter, as lower investment banking fees and trading revenues weighed on performance. The company is expected to provide an update on the ongoing investigations it faces into its involvement with the Malaysia 1MDB fund scandal.
• BlackRock Inc is scheduled to report fourth-quarter earnings after a bruising year that saw its stock plummet more than 20 percent, as weak markets hurt demand for investment funds.
• Bank of America Corp reports fourth-quarter earnings and investors will be looking for an update on the bank’s strategic plan. After the bank reached prior cost-cutting and efficiency targets, stakeholders want the management to articulate new goals.
