Wall Street

Wells Fargo Q1 2026 earnings due April 14 — analysts expect ~10% profit growth. Net interest income benefiting from elevated interest rates and large deposit base. Credit card delinquency trends closely watched for consumer financial stress signs.

Goldman Sachs Q1 2026 beats with 19% profit jump to .49 EPS. Investment banking fees surge 26% year-on-year as M&A advisory returns to markets. Advisory backlog entering Q2 appears robust. Equity underwriting grows as IPO appetite recovers.

Treasury Secretary Scott Bessent and Fed Chair Jerome Powell summoned Goldman Sachs, BofA, Citi, Morgan Stanley, Wells Fargo CEOs over Claude Mythos cybersecurity risks. Security experts called it "Y2K-level alarming." ~$2 trillion tech stock wipeout reported.

SpaceX working with 21 banks on blockbuster IPO codenamed Project Apex; Morgan Stanley, Goldman Sachs, JPMorgan, BofA, Citigroup leading syndicate; targeting $50B+ raise at $2T+ valuation, potentially largest ever market debut; Elon Musk requiring banks to buy Grok AI subscriptions to participate.

Wall Street has closed its fifth consecutive losing week, the longest sustained decline since the Iran war began, as the Dow, S&P 500, and Nasdaq all hit year lows amid mounting inflation concerns.