Wells Fargo

WFC

Market cap $258B

Lenders' results contrast with measures that show the highest credit card delinquency rates in 15 years.

Wells Fargo & Company (WFC) Q2 2026 Earnings Call Transcript

The Nasdaq added 0.9% and the S&P 500 rose 0.4%, buoyed by tech strength and a blockbuster start to the second-quarter earnings season. Five of the nation's largest lenders—including JPMorgan Chase and Goldman Sachs—reported a 39% jump in combined earnings to over $49 billion, driven by surging Wall Street fees from a widespread “risk-on” environment, the recent SpaceX IPO, and the AI boom.

Wells Fargo's Wealth & Investment Management business has invested over $1 billion over the past several years to modernize its technology platform, with a new generative artificial intelligence-powered suite of tools for financial advisors being the latest addition, Wells Fargo Chairman and CEO Charlie Scharf said Tuesday (July 14) during an earnings call.

Wells Fargo CFO Mike Santomassimo discusses the bank's second-quarter earnings and the outlook for M&A on "Bloomberg The Close." -------- More on Bloomberg Television and Markets Like this video?

Citigroup (NYSE:C | C Price Prediction) stock is down 4.7% to $134 Tuesday afternoon, a sharp sell-the-news reversal after the bank beat every analyst estimate for the second quarter.

WFC stock gains nearly 1.5% in early trading after Q2 earnings beat estimates, aided by higher NII, fee income and lower provisions despite higher expenses.

Jamie Dimon said conditions were nearly ‘as good as it gets' after JPMorgan reported a big jump in profit.

Big banks like JPMorgan (JPM), Bank of America (BAC), and Wells Fargo (WFC) faced sell-the-news reactions despite earnings beats, with expense and outlook concerns weighing. Goldman Sachs (GS) outperformed peers, driven by a 55% surge in investment banking fees, partially linked to the SpaceX (SPCX) IPO.

We have lots of big stock market news ahead of today's opening bell: Q2 earnings season shifts to a new gear with several of the top banks on Wall Street reporting, aggressions continue to boil in the Strait of Hormuz after more U.S. bombs strike Iran's interior, and June inflation data takes a downward route for the third-straight month.