Earnings season is upon us again, and so far financial services firms have performed better than expected, led by strong performances from Wells Fargo & Co. (NYSE:WFC) and Goldman Sachs Group Inc. (NYSE: GS). Investor confidence in financials such as American Express Co. (NYSE:AXP) helped push the markets into a Wednesday late-afternoon rally. The Dow finished up 109.44, or 1.38%, to 8,029.62, and the Nasdaq moved forward 1.08, or .07%, to 1,626.80.
Investors will be watching J.P. Morgan Chase & Co.'s (NYSE:JPM) announcement on Thursday. So, what can investors expect? The New York-based bank, which despite the financial crisis remains profitable, will likely record a profit and possibly follow Goldman Sach's lead and make an announcement to repay Treasury's $25 billion Troubled Asset Relief Program investment.
Unlike many of its peers, J.P. Morgan survived the credit crisis by not heavily investing in toxic debt. With their relative health in tact, J.P. Morgan was able to pick up desperate Bear Stearns & Co. and Washington Mutual Inc. - Gerald Magpily
J.P. Morgan earnings preview
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