Markets digest bank earnings after recent turmoil

What we covered here

• Wall Street heavyweight JPMorgan Chase reported record sales, with Citigroup, Wells Fargo, BlackRock and PNC Financial also reporting strong first-quarter earnings. They’re the first bank earnings reports since Silicon Valley Bank and Signature Bank failed last month.
• The latest retail sales data came in weaker than expected, a potential sign that the economy is taking a turn for the worse. Investors will also get a look at consumer sentiment from the University of Michigan survey.
• First-quarter earnings for S&P 500 companies kick off this week, and economists are predicting the biggest earnings decline since the onset of the pandemic.

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