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What Banks’ Q3 Earnings Mean for the Stock Market -Breaking

by Mike Robinson

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© Reuters. What the Q3 Earnings of Banks are for Stock Market

Many investors worried about the possibility of a decline in growth following the historical earnings season. However, this may not have been premature. Investor concerns have been calmed by banks’ better-than-expected earnings, which began the earnings season. Similar results have been achieved by other companies, which followed the bank’s lead. As these companies were able navigate the issues, it appears that rising prices and supply chain problems have not negatively impacted profits. We are now looking at a better environment for the S&P 500 (SPY) with a strong start to the corporate earnings season and positive economic data. I’ll discuss this and more below….Enjoy this version of my Weekly Commentary, published on October 20, 2021 by the POWR Value newsletter.

Last week, the market was up as banks began their third quarter earnings season with a bang. Bank of America (NYSE 🙂 was launched on Thursday. Morgan Stanley (NYSE:), Wells Fargo The stock market surged today after strong performances by the (NYSE:) before the opening bell.

With the economic growth, more consumers are being lent by banks. It is encouraging for the economy that banks have exceeded their expectations, as they are economic bellwethers.

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