Big Banks Bracing for a Recession

In today’s episode, Eric Compton, a strategist with Morningstar Research Services, talks about banks saving for an economic downtown and where investors could find opportunities. 00:06 Intro 00:36 Disney Proxy Fight 01:48 Hanesbrands closes Q4 with positive news  02:38 Coinbase plans layoffs 03:46 What do JPMorgan, Bank of America, Citigroup and Wells Fargo's results tell us? 05:57 How do their current actions compare to what they've done before previous recessions? 08:00 How could a recession affect banks in the short term and the long term? 10:30 What's going on with Wells Fargo? 12:39 Citigroup is also in a turnaround mode. What's the upside and the downside from their fourth quarter? 15:05 If investors are looking for opportunities among the Big Four that we discussed today, what would you recommend? 18:00 The Best 529 Plans of 2023 Read about topics from this episode. Trian Opens Proxy Fight With Disney; We Believe Peltz Could Add Value as a Board Member Coinbase to Lay Off More Workers in Second Round of Cuts Hanesbrands Alleviates Some Concerns by Reaching Modest Q4 Expectations; Shares Very Undervalued JPMorgan, Wells Fargo, Bank of America and Citi Beat Earnings Expectations, but Worries About Headwinds Remain Wells Fargo’s 2023 Outlook Shows That the Net Interest Income Boom May Be Over Bank of America Beats Fourth-Quarter Earnings; Net Interest Income Outlook is Disappointing Solid Q4 Results for Citigroup; Stock Remains Most Undervalued Among Banks Solid Q4 2022 Earnings for JPMorgan; 2023 Outlook Is Good What to watch from Morningstar. Create a New Financial Plan for the New Year: Part One Create a New Financial Plan for the New Year: Part Two Stock and Bond Markets’ Wild Ride in 2022 RMD Sticker Shock? How to Ease Your Tax Burden Read what our team is writing. Eric Compton Follow us on social media. Ivanna Hampton on Twitter: @IvannaHampton Facebook: https://www.facebook.com/MorningstarInc/ Twitter: https://twitter.com/MorningstarInc Instagram: https://www.instagram.com/morningstar...  LinkedIn: https://www.linkedin.com/company/5161/