JPMorgan Chase, Wells Fargo, Goldman Sachs, and Citigroup are scheduled to report fourth-quarter earnings Wednesday.

In a report released yesterday, Mike Mayo from Wells Fargo maintained a Buy rating on JPMorgan Chase & Co. (JPM – Research Report). The

Wells Fargo has shifted its focus from home mortgages to credit cards, which are increasingly popular for payments as well as lending.

Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.

JPM and WFC are preparing to release their Q4 earnings, with strong bullish momentum for JPM and cautionary signals for WFC. Analysts forecast positive results for JPM, while WFC may experience a minor pullback.

JPMorgan Chase & Co.'s Chief Executive Jamie Dimon said the U.S. economy remains "resilient" but he remains wary of inflation and uncertain geopolitics. "Unemployment remains relatively low, and consumer spending stayed healthy,

JPMorgan shares jumped on the bank's final financial results of 2024, climbing 2.6% before the bell. Wells Fargo’s net income nearly doubled to $5.1 billion, surpassing Wall Street forecasts. Wells Fargo Shares rose 3.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

Expectations for a pro-business climate under the incoming Trump administration has lifted the spirits of major bank executives.

Cathay General Bancorp (Nasdaq: CATY), the holding company for Cathay Bank, announced that Mr. Kim R. Bingham will retire as Chief Risk Officer of Cathay Bank, effective January 21, 2025. Mr. Bingham will continue to serve Cathay Bank as Executive Vice President,

Citing concerns about going outside its statutory mandate, the Federal Reserve Board of Governors voted to leave the Network of Central Banks and Supervisors for Greening the Financial System.