US bank earnings season kicks off April 14-15 (ET), with Goldman Sachs, JPMorgan, Citigroup, and Wells Fargo releasing Q1 results. S&P 500 consensus Q1 earnings growth stands at +13.0%, and all four banks project double-digit EPS growth.
Key consensus numbers:
- JPMorgan (4/14): EPS $5.38 (+6.1% YoY)
- Goldman Sachs (4/14): EPS $16.41, IB fees +26%
- Citigroup (4/15): EPS $2.63 (+34% YoY)
- Wells Fargo (4/15): EPS growth +23.6% YoY
The critical variable is not earnings beats but CEO guidance. Net interest income stagnation and credit provision commentary will determine whether the S&P 500's 7-day winning streak has fundamental backing.
Korea investor implications: KOSPI closed at 5,858.87 on 4/10 with 4 consecutive days of foreign net buying (+1.1T KRW). Bank results will be reflected in Korea's April 15 trading session starting from the open.
The market's real test: can earnings confirm the rally is fundamentally supported, or will guidance shock trigger a reversal?
For the full analysis in Korean, visit Snakestock.
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