JPMorgan, Wells Fargo, Goldman Sachs and Citi kicked off earnings season on Wednesday with their December-quarter results.

The stock's rise snapped a three-day losing streak.

Financial stocks had among the biggest gains among the S&P 500 ‘s 11 sectors in afternoon trading Wednesday, as shares of Citigroup Inc. and Wells Fargo & Co. each jumped more than 7%, according to FactSet data,

The largest banks in the U.S. may justify further gains in stock prices if their earnings updates in the coming days include any upside surprises around loan growth or a boost from lighter regulations expected by the Trump administration.

JPMorgan's net income surged by 50% to over USD 14 billion in Q4, exceeding Wall Street forecasts. Earnings per share climbed to USD 4.81, surpassing predictions. Revenue increased to USD 43.7 billion.

JPMorgan shares jumped on the bank's final financial results of 2024, climbing 2.6% before the bell. Wells Fargo’s net income nearly doubled to $5.1 billion, surpassing Wall Street forecasts. Wells Fargo Shares rose 3.

The FactSet consensus estimate for the bank's ... to buy from neutral and said it could gain another 20% this year. Wells Fargo earnings expectation edges up Analysts expect Wells Fargo to earn ...

Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.

Wells Fargo & Co.'s stock jumped 3% early Wednesday, after the bank posted better-than-expected fourth-quarter profit, offsetting a revenue miss. . The bank posted net income of $5.1 billion, or $1.43 a share,

Wells Fargo's (WFC) fourth-quarter top-line unexpectedly declined due to lower net interest income, while per-share earnings outperformed. Revenue, expressed as the sum of net interest income and noninterest income,

Banks such as JPMorgan, Citi, and Goldman Sachs started the earnings season off on a positive note when all beat expectations on the top and bottom lines.

With the fourth quarter earnings season underway, energy (XLE), financial (XLF) and industrial (XLI) emerged as the highest-rated sectors among the 11 S&P 500 (SP500) sectors, as per Seeking Alpha's Quant model.