Daily Economic Indicator: Some banks seen showing improved earnings

10/14/2009 | CNNMoney/Fortune

In the coming weeks, the six biggest U.S. banks will report third-quarter earnings, and analysts expect four of the six to post profits, with profits more than doubling from last year at Goldman Sachs and JPMorgan Chase. But Wells Fargo and Morgan Stanley are forecast to show a decline in profit, and Citgroup and Bank of America are expected to show losses, as troubles from home loans, credit cards and commercial properties will still hurt balance sheets. Conditions are better for banks in general, but there are still challenges. "We're through the worst of the storm, but we're not out of the other side of it," said William Schwartz, senior vice president at ratings agency DBRS.

View Full Article in:


Published in Brief: