Earnings season is set to begin on Friday, January 12, when companies including JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Delta Air Lines (DAL), and UnitedHealth (UNH) report their quarterly results. Regional banks tend to report early in the cycle. Wedbush Securities Managing Director David Chiaverini joins Yahoo Finance to give a preview.
Chiaverini argues that when the Federal Reserve starts cutting rates, it will be a positive for the regionals. However, he says that though the recent rally in regional banks stocks is “warranted,” he thinks “upside is going to be limited, because I’m not expecting the Fed to be cutting as soon as what the market is predicting.” He says higher-for-longer rates are still going to slow the economy, which will take a toll on the sector.
Chiaverini says the best positioned banks are those that have strong capital ratios and loan portfolios that will fare better during downturns. Find out which banks he likes by watching the video above.
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