Investor pessimism persists despite earnings reports from major US banks
WFC Wells Fargo & Co
$80.90 +0.20%
View chart & analysis → - 1Citigroup showed strong performance with 8% year-over-year revenue growth in the third quarter, but its stock price fell 5.6%.
- 2Bank of America disappointed with earnings due to a $1.2 billion regulatory fine related to allegations of anti-money laundering and sanctions violations.
- 3Jim Cramer said investors appear more concerned about the upcoming future than the reports banks just released.
So what's the key point?
Citigroup's revenue grew by 8%, but its stock price went down. Investors are more worried about what lies ahead than the banks' recent earnings.
Source CNBC +1 · View original ↗
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