Wells Fargo is the first major US financial to report earnings but there was nothing in the numbers show which was the rest of the financial sector will swing.
- Pre-share earnings $1.01 vs $1.01 exp
- Revenue of $21.07B vs $20.84B exp
- Shares down 0.7% in the pre-market
Wells is more in the old fashioned lending industry than some of its rivals who also specialize in trading and investment banking.
They do offer some insight on housing. Home lending originations were $47 billion, compared with $112 billion a year earlier in a sign of a cooling market.
