JPMorgan, Citigroup and Wells Fargo to Open Q3 Bank Earnings on October 13

Zacks Investment Research·7 Oct 2026·

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Macro Earnings Banks

JPM ▼

WFC ▼

Summary · why it matters

JPMorgan, Citigroup and Wells Fargo will kick off the Q3 reporting cycle for the Finance sector on Tuesday, October 13th, with spiking Treasury yields weighing on bank shares. Over the last three months, as Treasury yields spiked higher, JPMorgan and Wells Fargo shares lost -0.3% and -6.2%, lagging the S&P 500 index's +4.2% gain, even though estimates for JPMorgan modestly increased and those for Wells Fargo largely remained stable. Higher interest rates are generally seen as beneficial for these banks, but spiking yields of the type recently experienced are negative from several angles, ranging from paper losses on available-for-sale bond portfolios to squeezed net interest margins through surging deposit betas and negative effects on credit demand and credit quality. Trading volumes have remained very strong in recent quarters, but mid-quarter updates from management teams suggest they will be below the levels seen in the preceding period, and negative developments in the treasury bond market have clouded the outlook for deal flow, with several high-profile IPOs delayed as a result. For the Finance sector as a whole, Q3 earnings are expected to increase +3.4% from the same period last year on +6.3% higher revenues, following the sector's +22.4% earnings growth on +13.2% higher revenues in the preceding period, while total S&P 500 earnings in Q3 are expected to rise +24.6% on +11.5% higher revenues.

JPMorgan Chase & Co ▼

Wells Fargo & Company ▼