Bank earnings are coming, and once again, it’s about the outlook, not the earnings. Investors are hoping bank executives paint a rosy picture of the economy, Carleton English writes in this week’s edition of Barron’s. JPMorgan (JPM), Citigroup (C), Bank of America (BAC), and Wells Fargo (WFC) are all set to report this coming Friday, and investors will be waiting with bated breath for signs that 2024 will be better than 2023. After being a punching bag for much of 2023, this year could be a strong one for Goldman, the author says. Having shed much of its money-losing consumer businesses, the slimmed-down Goldman can focus on what it does best: investment banking. With rates normalizing, deal activity and IPOs should come back, which will get shares humming again, with as much as 8% upside, the publication adds.
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