WS #12039
JPM, GS, C, BAC all beat Q2 earnings estimates (GS $20.98 vs $14.40 est.), but JPM slides on expense guidance; Goldman CEO says clients bringing most critical deals. Warsh testifies Fed has 'no tolerance' for elevated inflation, reiterates pledge to get inflation down; productivity growth strong predating AI. CPI data likely overshadows hawkish tone.
Bank Earnings Beat but Mixed Stock Reaction
JPM, GS, C, BAC all beat Q2 earnings estimates (GS $20.98 vs $14.40 est.), but JPM slides on expense guidance; Goldman CEO says clients bringing most critical deals.
Warsh testifies Fed has 'no tolerance' for elevated inflation, reiterates pledge to get inflation down; productivity growth strong predating AI. CPI data likely overshadows hawkish tone.