Earnings Season Off to Rough Start, About to Get Worse!

This morning JP Morgan and Morgan Stanley both reported horrible second quarter earnings as higher bad loan reserves caused massive reductions in earnings and a slow down in deal making hurt investment banking. Tomorrow things go from bad to worse as Blackrock, Wells Fargo, Citigroup, PNC, US Bancorp, and NY Mellon all report before the opening bell. If it's anything like this morning, then we're in for a rough day tomorrow!

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#BankEarnings #JPM #MorganStanley #inflation #recession #MelonHead