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Bank Earnings Q3 2024: Insights & Trends | The Daily Peel ๐ŸŒ

Wall Street Oasis

Wall Street Oasis

Business

4.9 โ€ข 534 Ratings

๐Ÿ—“๏ธ 17 October 2024

โฑ๏ธ 34 minutes

๐Ÿงพ๏ธ Download transcript

Summary

Dive into the latest Q3 2024 bank earnings as we analyze consumer banking trends, revenue by segment, and the impact of interest rates on the financial landscape. Discover how major banks like JP Morgan, Bank of America, and Goldman Sachs are navigating the changing economic environment and what it means for investors. Join us for a detailed breakdown of average loans outstanding and the current state of the U.S. government debt market. -----------------------------------------------------------ย  ๐ŸŽฏ ๐—Ÿ๐—”๐—ก๐—— ๐—” ๐Ÿฒ-๐—™๐—œ๐—š๐—จ๐—ฅ๐—˜ ๐—›๐—œ๐—š๐—› ๐—™๐—œ๐—ก๐—”๐—ก๐—–๐—˜ ๐—ฅ๐—ข๐—Ÿ๐—˜ (๐—š๐—จ๐—”๐—ฅ๐—”๐—ก๐—ง๐—˜๐—˜๐——) Interested in landing a role that can pay you upward of $๐Ÿฎ๐Ÿฌ๐Ÿฌ,๐Ÿฌ๐Ÿฌ๐Ÿฌ right out of the gate?ย  What if that was guaranteed?ย  Come learn more about WSO Academy:https://www.wallstreetoasis.com/academy?affiliate=socialwinner-youtube ----------------------------------------------------------- ๐—ช๐—ฆ๐—ข ๐—ช๐—ฒ๐—ฒ๐—ธ๐—น๐˜† ๐—ช๐—ฟ๐—ฎ๐—ฝ๐˜‚๐—ฝ - โ โ ๐—ฆ๐—ถ๐—ด๐—ป ๐—จ๐—ฝ ๐—ณ๐—ผ๐—ฟ ๐˜๐—ต๐—ฒ ๐—ก๐—ฒ๐˜„๐˜€๐—น๐—ฒ๐˜๐˜๐—ฒ๐—ฟ ๐—›๐—ฒ๐—ฟ๐—ฒโ โ  https://www.wallstreetoasis.com/media/newsletters/wso-weekly-wrapupThe Daily Peel - Sign Up Hereย https://www.wallstreetoasis.com/media/newsletters/the-daily-peelJoin our Discord - Sign Up Herehttps://discord.gg/Dn3YJZTbsF ----------------------------------------------------------- ๐—ช๐—ฆ๐—ข ๐—ฃ๐—ผ๐—ฑ๐—ฐ๐—ฎ๐˜€๐˜:Apple:ย https://podcasts.apple.com/us/podcast/wall-street-oasis/id1463441793Spotify:ย https://open.spotify.com/show/7nQxuApNXFkUSvojQGKyAQ?si=GrYh2zIHSsub8S8xIX0PjQ&nd=1Stitcher:ย https://www.stitcher.com/show/wall-street-oasis-2 ----------------------------------------------------------- WSO Courses:ย https://bit.ly/2ESzrv2WSO Resume Review:ย https://bit.ly/2Z0DFYqWSO Mentors:ย https://bit.ly/3lIHoUiWSO Events:ย https://bit.ly/350vMGd

Transcript

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0:00.0

The NASDAQ fell a little bit further, down 1.01% down 101 basis points on the day.

0:05.7

Apple was up 1.1% for the session. In video down almost 5% on the day.

0:17.4

What's up, Apes? Welcome back to another edition of the Daily Peel's Daily Podcast of the day. Thank you all for joining us here once again at the world's most popular and influential podcast. We appreciate to being here with us on another beautiful Tuesday. It is currently October 15th, 2004. It is now 6.49 p.m. We got a hell of a lot to talk about here today. Earnings is back in full swing, so let's waste no more time and go ahead and get right into it.

0:39.8

So the S&P 500 is down about 76 basis points on this session here today. Most of the heavy lifting and bringing that lower was done by semiconductor stop for some not so great news that we'll talk about in a little bit. but we also saw weakness at the energy sector in particular because there's heavy downward pressure

0:54.4

on oil prices probably for a good reason, though, because this news emerged because Israel basically said that they won't strike Iran's nuclear sites, which is good for humanity, especially the people that are going to be in those regions, but not necessarily great for energy companies looking to increase their margins. So it's good for your bill at the gas station now meanwhile the nasdaq fell a little bit further down

1:15.7

1.01% down 101 basis points on the day weekday for technology stocks unless your name is apple

1:22.4

apple was up 1.1% for the session invidia down almost 5% on a day. We wrote about Nvidia as well, so we'll

1:28.6

break that down for it in just a quick second. But they are no longer nearly as close to each other

1:32.6

in market cap. Invidia is still the second largest company in the world behind Apple and just

1:36.8

ahead of Microsoft. Meanwhile, we saw a good day for the Russell 2000 up about eight basis points

1:42.4

for the session. So it wasn't a whole lot of action,

1:45.5

you know, at least like universally kind of like mutual action among small cap stocks to be moving

1:49.9

them in tandem. Good earnings for a lot of these small cap firms. We're seeing good earnings

1:53.7

overall for the broader market. And once again, the market's general upward bias. And finally,

1:58.5

the Dow, not that anybody cares, lost 75 basis points. Meanwhile, WSOF portfolio absolutely on fire for the session, lost only 56 basis points for the day. Shout out to Charles Schwab and a hell of a return that we'll talk about in a quick second. They really carry the team, but we're also, you know, Apple, Zillow were big helpers on the day. I think Dollar General had a big up move as

2:18.3

well. So overall, a good day for the Apes at WSO Alpha. Moving into some of our banana bits for the day, fair warning, we do have a lot of these and most of them are just related to earnings. But before we get into some of those earnings one, first and foremost, well, actually this one does relate to earnings, but fuck me, I guess. Okay, so

2:35.4

Europe's second largest company, ASML. I'm pretty sure the largest is Novo Nordisk. I could be

2:40.6

wrong on that, so somebody correct me if I am wrong, probably some no-name fucking industrial

2:44.5

giant that literally nobody has cared about since the Vietnam War. But nonetheless,

2:48.9

Europe's second largest company, ASML, absolutely tumbled on the

2:52.3

session here today. So it was a rough day because they decided to come out with their earnings on the

2:56.0

same day that there was some bad news for the semiconductor industry. Basically, there's just

...

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