Reported about 4 hours ago
In the latest earnings season, major banks like JPMorgan and Wells Fargo have exceeded expectations, according to Hennessy Funds portfolio manager David Ellison. He emphasizes a positive shift in banking fundamentals, with growing equity and increasing tangible book values, while noting that these banks are becoming increasingly vital to government funding as they expand. Ellison argues that as the Federal Reserve's influence diminishes, the banks' importance and profitability rise.
Source: YAHOO