Making sense of the markets this week: October 23 Oct 21st

Learn more about Canada’s top banks rates, rules and the latest news – read on!

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Making sense of the markets this week: October 23

– moneysense.ca

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.

Bank on higher interest rates leading to increased profits

U.S. earnings season is in full swing, and the banks were some of the first to step up to the plate. They didn’t all hit home runs, but investors were likely quite pleased with their performance. (All values below are in U.S. currency, unless otherwise stated.)

Bank of America (BAC/NYSE): Earnings per share of $0.81 (versus $0.77 predicted). Revenue of $24.61 billion (versus $23.57 billion predicted.) Shares rose more than 17% over the last five trading days.

Goldman Sachs (GS/NYSE): Earnings per share of $8.25 (versus $7.69 predicted). Revenue of $11.98 billion (versus $11.41 billion predicted). Shares are up more than 6% over the last five trading days.

JP Morgan (JPM/NYSE): Earnings per share of $3.12 (versus $2.88 predicted). Revenue of $33.49 billion (versus $32…

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