Jim Cramer Says He Likes Earnings From These Big Banks 'So Much' — Here's Why
Jim Cramer Says He Likes Earnings From These Big Banks 'So Much' — Here's Why
When you read through all the big bank quarters so far you like GS and MS so much because of the fees, not the net interest income. Same with Wells Fargo, which had a very good quarter. Big boost in feesWith big bank earnings now in the rearview mirror, CNCB Mad Money host and stock picker Jim Cramer on Wednesday weighed in on which of them impressed him the most.
随着大银行的收益现已浮出水面，CNCB Mad Money主持人兼选股者吉姆·克莱默周三权衡了其中哪一个给他留下了最深刻的印象。
What Happened: Cramer was impressed with the earnings reports of Goldman Sachs Group, Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS). He added the name of Wells Fargo & Co. (NYSE:WFC) in the same breath.
发生了什么：高盛集团公司（纽约证券交易所代码：GS）和摩根士丹利（纽约证券交易所代码：MS）的收益报告给克莱默留下了深刻的印象。他添加了富国银行的名字。（纽约证券交易所代码：WFC）也是一样。
Cramer premised his picks based on the fee income these banks generated rather than on the net interest income. Fees include income generated from equity and debt underwriting, as well as advisory and asset & wealth management fees. Net interest income, on the other hand, is the difference between the money the banking operation receives on the loans it extends and the money it owes to its depositors.
克莱默的选择是基于这些银行产生的费用收入，而不是净利息收入。费用包括股权和债务承保产生的收入，以及咨询和资产与财富管理费。另一方面，净利息收入是银行业务从其发放的贷款中获得的资金与欠存款人的钱之间的差额。
When you read through all the big bank quarters so far you like GS and MS so much because of the fees, not the net interest income. Same with Wells Fargo, which had a very good quarter. Big boost in fees
— Jim Cramer (@jimcramer) April 17, 2024
当你通读到目前为止的所有大银行季度时，你之所以喜欢GS和MS，是因为费用，而不是净利息收入。富国银行也是如此，该银行的季度表现非常出色。费用大幅上涨
— 吉姆·克莱默 (@jimcramer) 2024 年 4 月 17 日
Why It's Important: The Fed funds rate, which is used as a benchmark to fix various interest rates, is now at a 22-year high of 5.25%-5.50%. This is positive for the net interest income of banks.
为何重要：用作固定各种利率的基准的联邦基金利率目前处于22年来的最高水平，为5.25％-5.50％。这对银行的净利息收入有利。
The net interest income's health also hinges on the provisioning a company sets aside for credit losses.
净利息收入的健康状况还取决于公司为信贷损失预留的准备金。
For Goldman, which reported a stellar quarter, non-interest revenue rose 21% year-over-year and 26% quarter-over-quarter. Net interest income, meanwhile, was down 10% year-over-year and up 20% sequentially.
对于报告表现出色的高盛而言，非利息收入同比增长21％，同比增长26％。同时，净利息收入同比下降10％，环比增长20％。
JPMorgan Chase & Co., Inc. (NYSE:JPM), which did not appease the Street with its earnings, did report a double beat. Much of the upside was from higher interest income, facilitated by higher rates and larger loan balances stemming from its First Republic Bank takeover.
摩根大通公司（纽约证券交易所代码：JPM）的收益并未安抚华尔街，但确实公布了双倍增长。大部分上行空间来自于更高的利息收入，这得益于收购第一共和国银行所带来的更高利率和更大的贷款余额。
After taking a dovish stance immediately after the March Federal Open Market Committee meeting, Jerome Powell has reverted to his hawkish stance. In a speech on Tuesday, he said the restrictive rates should persist as long as the inflation remained above the 2% upper ceiling set by the central bank.
杰罗姆·鲍威尔在三月份联邦公开市场委员会会议后立即采取鸽派立场后，又恢复了鹰派立场。他在周二的一次讲话中表示，只要通货膨胀率保持在央行设定的2％的上限以上，限制性利率就应该持续下去。
The futures market, however, is pricing in a 67.3% possibility of a rate cut in the September meeting.
但是，期货市场认为9月会议降息的可能性为67.3％。
The iShares U.S. Financials ETF (NYSE:IYF) ended Tuesday's session down 0.68% at $88.39, according to Benzinga Pro data.
根据Benzinga Pro的数据，iShares美国金融ETF（纽约证券交易所代码：IYF）周二收盘下跌0.68％，至88.39美元。
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