Shock Turnaround In Bank Stocks After Lousy Earnings

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Photo: SpaceX

This just goes to show that official “estimates” are often not what markets are estimating or anticipating.By all accounts, both Goldman Sachs and Bank of America reported totally awful quarterly results, with numbers coming in worse than expectations.

But (!) stocks are all higher.

After briefly dipping below $6, Bank of America is up 1.5% in the pre-market.

Goldman is up 0.77%.

Overall there’s been a market rebound.

Futures are basically flat.

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