Apr 3, 2022
Record-High Wednesday – Dow 33,600, S&P 4,140, Nasdaq 14,000
Bank earnings are good. Well, Goldman Sachs (GS) and JP Morgan (JPM) are good, Wells Farge (WFC) – not so much. And I’m not sure I’d call JPM “good” as $5.2Bn of the quarter’s $14.3Bn in profit came from the release of loan reserves that were set aside last year to cover anticipated loan defaults.