The financial sector, recently a weak performer in the stock market, will garner the majority of investor attention this week as a number of big banks post their quarterly results.
Goldman Sachs, Bank of America, Wells Fargo, Citigroup and JPMorgan Chase — the five biggest U.S. banks by market cap — are due to report results as the sector has trailed the market in recent weeks and earnings estimates have fallen.
In the last 30 days, banks have seen their estimates steadily lowered, with Goldman the biggest victim. Its estimates for the quarter are down by 25 percent in that time period.
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