Stocks of all the major banks were slightly higher in pre-market trading after two of the big banks reported earnings on Tuesday.
Goldman posted earnings per share of $US5.02, ahead of the $US4.19 expected by analysts. This was largely credited to a surge in investing and lending revenue.
Meanwhile, Morgan Stanley reported earnings per share of $US0.93, ahead of estimates of $US0.81 per share. The bank saw strong performance from its dealmakers and wealth management unit.
The S&P 500 Financials Index, which is comprised of banks and financial institutions, was up 0.64% ahead of Tuesday’s opening bell and 12.87% for the year. Here’s a look at how the major banks are trading early Tuesday:
- JPMorgan (JPM) +0.50% at $US98.33
- Citigroup (C) +0.70% at $US72.27
- Bank of America (BAC) +0.72% at $US26.43
- Wells Fargo (WFC) +0.20% at $US53.91
- Goldman Sachs (GS) +1.23% at $US245.39
- Morgan Stanley (MS) +1.33% at $US49.59