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Banks and financial stocks

The big US banks, their earnings and what lending, trading and credit costs say about the economy.

Banks sit at the centre of the economy: they take deposits, lend to households and companies, and trade and advise on the financial markets. Their results are among the first of each earnings season and offer an early read on credit, dealmaking and consumer demand.

A bank stock reacts to more than its headline profit. Net interest income, credit provisions, trading revenue and one-off charges often matter more, and the same report can be read very differently by the end of the session.