Banks formally kick off earnings season tomorrow morning when JPM, PNC, and WFC all report.
Viewing entries tagged
$C
The biggest driver of today's weakness, though, is the underperformance of the heavily-weighted financial sector (-2.3%). It has fallen victim broad-based profit-taking activity.
The market will be paying close attention to several reports from the banking industry on Friday morning. The two "most important" being Bank of America and JP Morgan.