

Predicting the market, US banks & biotech: The Companies and Markets Show
Jan 24, 2025
Jemma Slingo
AI Snips
Chapters
Transcript
Episode notes
US Bank Gains
- US bank stocks saw gains, driven by a resurgence in investment banking activity.
- This activity had been subdued for a couple of years, attributed to higher interest rates and geopolitical issues.
JP Morgan's Success
- JP Morgan, Wall Street's biggest bank, showed strong Q4 results, with net income up 50% to $14 billion.
- Other banks, including Morgan Stanley, also performed well, indicating overall market enthusiasm.
Contrasting Fortunes
- Bank of America, a major credit card and mortgage lender, performed very well, unlike Citigroup.
- Citigroup's profitability is under scrutiny, with pressure on management to improve its return on common equity.