Big Bank Earnings Reports Come in Mixed, Their Stocks Retreat

A Wall Street street sign is seen near the New York Stock Exchange, in New York, on Sept. 14, 2021. AP/Mark Lennihan, File

Several major U.S. banks reported mixed results in their quarterly earnings reports on July 12, with investors focusing on the misses, leading bank stocks to tumble.

The second-quarter reporting season kicked off in earnest on Friday as financial giants JP Morgan Chase, Wells Fargo, and Citigroup all releasing their quarterly earnings reports, providing a snapshot of the health of the U.S. banking industry.