January 23, 2022

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Are the Bank Stocks Buys After Kicking Off Earnings Season?

Citigroup  (C) – Get Citigroup Inc. Report and Wells Fargo  (WFC) – Get Wells Fargo & Company Report are mixed on Friday, after the banks kicked off earnings season.

They did so alongside JPMorgan  (JPM) – Get JPMorgan Chase & Co. Report, which is down the most among the trio as it’s lower by more than 5% on Friday after reporting earnings.

Citigroup is down about 2% despite beating earnings estimates, while Wells Fargo is up more than 3% after its results blew past expectations.

The financial sector has been one of the best-performing groups at a time where tech stocks are falling hard and as the market remains in a state of uncertainty.

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