wells fargo j.p. morgan citigroup have all disclosed their second quarter results and all three wall street's expectations they collected more money on interest but it wasn't all good news for j.p. morgan the.

wells fargo j.p. morgan citigroup have all disclosed their second quarter results and all three beat wall street's expectations they collected more money on interest but it wasn't all good news for j.p. morgan the nation's largest bank by assets said it expected weaker net interest income falling bond yields also way down the sector its net income rose thirteen percent to seven point zero three billion dollars do you tales now in wells fargo the largest. mortgage lender in the united states said its profit edged higher in the second quarter as the bank got a boost from rising interest rates and the planned sale of its insurance service businesses its profit grew five percent to five point eight billion dollars or one dollar seven cents a share that was more than a dollar over analysts expectations and now the citi group the profit fell three percent as the banks set aside more money to cover souring loans especially its credit cards the new york based bank earned three point eight seven billion dollars or one dollar t

wells fargo j.p. morgan citigroup have all disclosed their second quarter results and all three beat wall street's expectations they collected more money on interest but it wasn't all good news for j.p. morgan the nation's largest bank by assets said it expected weaker net interest income falling bond yields also way down the sector its net income rose thirteen percent to seven point zero three billion dollars details now in wells fargo the largest mortgage lender in the united states said its profit edged higher in the second quarter as the bank got a boost from rising interest rates and the planned sale of its insurance service businesses probably it's. grew five percent to five point eight billion dollars or one dollar seven cents a share that was more than a dollar over analysts expectations and now to citi group the profit fell three percent as the banks set aside more money to cover souring loans especially its credit cards the new york based bank earned three point eight seven billion dollars or one dollar twen

j.p. morgan citigroup bettered earnings highlighting voluntary volatility in the quarter weighed on trading revenue waiting on wells fargoy hit the tape at this point, the stocks were up now they are down j.p. morgan shares down 1% wells fargo down one and a third piers citigroup off a fraction third of a per cent higher on citigroup, fuse indicating markets will open fractionally lower-than-expected, dow industrials down fraction s&p 500 also down a fraction, nasdaq up though this morning coming off another record high for the the markets yesterday dow industrials hitting 24th record high of the year. to look at european indices ft down a pert of a kwaebt cac quarante up fractionally in asia overnight close to flatline gains across the board saws there quite fractional moves across the board in asia president trump leaving paris this morning, top issue upon return, repeal and replace of obamacare. >> truly do believe the senate health care bill is the beginning and the end of obamacare we will return american health care to a system based on time honored principles free market competition, personal responsibility, and s

upside, especially if the big banks will start with their earnings next week with wells fargo, citigroup and j.p. morganome out with their earnings reports. >> thank you. >> german engineering conglomerate siemens says it has set up a task force to investigate why -- russia annexed crimea from ukraine in 2014 and the reason is subject to european union sections, preventing eu firms from providing crimea with energy technology. now for some pricey fruit, high integrates has set record prices -- high grapes have set record prices. ruby roman grapes, it took 14 years to develop this variety. producers plan to ship about 26,000 bunches of the great before the season ends -- grapes before the season ends in late september. >> to german politics, 11 more weeks to go before people here in germany go to the polls. it is time to catch up with the latest leg of our election vote trip. we are taking a look at the big election issues ahead of september's vote. they are on a road trip visiting cities and towns across the country. this week they have been to the western city of cologne to find out how islam is changi

j.p. morgan chase, citigroup and wells fargo.mic data on retail sales, consumer prices and manufacturing. dough rising 20 points to 21,000. nasdaq up 13 to 6274. have a nice weekend. >>> the search for answers is now expanding. the investigation into a bucks county murder mystery makes its way into philadelphia. the area where detectives are zeroing in on. and last chance for deal. tell you what's in the latest version of the republican health care bill as lawmakers try to garnish support they need to pass it. >>> i'm tracking showers and thunderstorms. showers just on the way to philadelphia. won't be long. the rain will be coming down. and thunderstorms in chester county. see some flashes of lightning this morning. won't be the tend of it. heavy downpours and more strong storms possible later today. you're first alert neighborhood forecast just ahead. >>> search for answers expands. >>> rain on the way. storms moving in and their set to ruin the start of your weekend. >>> travel ban changes. the new guidelines downsizing the pr

j.p. morgan, wells fargo, and citigroup second-quarter numbers disappointed. they felt by about 25%.igher interest rates should help bank of america's revenue and profits. richard jeffrey is still with us. your bread and butter is banks. does this quarter or this season put different winners and losers to the ones we have had in previous quarters? >> i do not believe so. is aquity market reaction little subdued. is one of banks and returning capital to shareholders. to. morgan just managed return $4.5 billion. -- all of thethem banks in the west will be very jealous of those results. the fed is still in control of the curve. and every rate increase translates into the bottom line of those banks. the bank of america has looked forward [indiscernible] -- let us not forget that long growth is quite strong in america. j.p. morgan was talking about 8% versus a 2-5 percent gdp growth which tells you it is good for the stability of the bank, in the short term. francine: richard, what is your take overall for the banks? we are still expecting a lot of earnings. european banks seem to be a li

j.p. morgan chase, wells fargo, citigroup, all in the spotlight as we kick off trading in a couple of hoursn wall street. >> thank you. the g 20 wrapped up with both nations pulling together to fight protectionism, but president trump cut a lonely figure at the meeting in hamburg when it came to climate change. >> the g 20 meeting in hamburg was a weekend full of confrontation that yielded little in terms of results. demonstrators gathered to confront 20,000 police officers, but in the end, looted local stores, set cars ablaze, and through molotov cocktails. meanwhile, president trump confronted president putin on the alleged hacking of the 2016 election. angela merkel and emmanuel macron confronted putin on the situation in ukraine. only one bilateral meeting yielded tangible results between putin and trump, who agreed on a cease-fire in syria, but how long will that last? president trump received a lot of criticism for letting his sit in hisanka chair of the g-20 meeting. the biggest conversation was around to trade where they agreed to fight protectionism but allowed members to use tray

j.p. morgan chase, citigroup and wells fargo disappointed on the earnings front, although there were some worse than warned, so that set the negative tone. second quarter earnings were at a record pace. earned $26.5 billion in profit in the last 12 months. it increase loans to customers double what analysts anticipated. the takeaway is whether the bond rebound is that risk of stalling out your the cfo did lower expectations for trading revenue going forward citing muted volatility. , they are closing in on j.p. morgan chase in the bond trading revenue and investment banking. results were the strongest in seven years. operations helped clients merge with rivals and raised money by selling stocks and bonds, and that in boosted investment banking. .rading revenue slipped 6% wells fargo in the spotlight as it announces its cost-cutting in the wake of its bank account scandal. the ceo also saying they are doing ok and like many banks they are keeping and i on washington. >> for the largest banks, including ours, that enjoy the globally important status, there is not an expectation the regulati

among the biggest laggers including bank of america, wells fargo and morgan stanley shares of j.p. morgan and citigroupreporting declines in trading sales. the decline in banks is putting the spider bank etf under pressure etf is down more than 1% and on track for its worst day in nearly three weeks now i'll send it back downtown for the start of "squawk alley." >> thanks, leslie. it is 8:00 a.m. at amazon headquarters in seattle and "squall alley is live. ♪ >>> good friday morning. welcome to "squawk alley," john fort here at post 9 on this interesting market day dow up is 18 points or so. shares of snap are under pressure yet again this time it's cowen downgrading the stock to market perform citing digital advertising the second downgrade this week

fargo yack of what is the take away? >> the take away was that there were some unusual items that reporting for citigroup and j.p. morgan and wellsd, mainly on gains and credit. credit costs are still really low. we are still seeing a really stable economy, which is a big element when you look at these banks, being able to look at credit being something that will not come back and haunt you going forward. alix: what are we going to learn about morgan stanley, bank of america tomorrow? they: when we look at earnings season, they had pressure from the activities being low at this point. they will not be up to bring through the second punch of what you just talked about, capital. the pivot point on regulation was capital, 26% increase in dividends, a 44% increase in share repurchases and strong numbers. the second followthrough is short-term interest rates that are higher over the last three quarters. in the super regional banks, margins will expand. margin wast interest 20 points higher in the second quarter of 2017 than the second quarter of 2016. that will produce double-digit earnings per share growth for the central banks and a

certainly, wells fargo, seeing decent profit numbers coming in and citigroup, j.p. morgan as well. now, the trading desk has been a problem for the banks because there's low volatility. when there's low volatility. can't make money off the trades, but the numbers are coming in strong for the free ban -- three trades. >> that means we're not going to see the end of the trump rally bearing in mind the bank earnings reports from last hour. liz: that's the way it stands. got to watch at the opening. stuart: back to politics, president trump spent the day attending bastille day and the 100th entry to the u.s. to world war i. ashley, by the looks of the videotape the last hours, he's got a friend. ashley: it's amiable. earlier he was hanging out with angela merkel talking how much in common, france and fwaerm have. they pretty much agree. it was amiable, and lots of smiles between trump and macron and of course, they were there to celebrate bastille day. and both leaders saying, our countries were founded by revolution and the fight for freedom, blah, blah, blah. stuart: you know what i