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Bank Q1 earnings: Strategist’s top banking picks
Big banking institutions including JPMorgan Chase (JPM) and Citigroup (C) will release their first-quarter earnings reports this week. As uncertainty from geopolitical conflicts and doubts over whether the Federal Reserve will even make interest rate cuts in 2024, some on Wall Street turn to the financial sector to peak into the health of the market. RBC Capital Managing Director Gerard Cassidy joins Market Domination to break down expectations for upcoming bank earnings and the top themes investors should keep in mind. Cassidy outlines his top picks for investors during this time: “I would say going into the earnings season, we have both a money center pick which doesn’t report on Friday, which of course is Bank of America (BAC), they report the following Tuesday. But also, we would say that JPMorgan is a perennial favorite. It’s done very, very well. It’s owned by just about everybody around the world. But, Bank of America would be the favorite pick in the quarter…” For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor’s note: This article was written by Nicholas Jacobino
