S&P 500 Continues to Trade Around Highs as Big Banks Beat on Earnings 2021-04-14 12:00:00 Izaac Brook, JPM, GS, WFC Earnings Talking Points: JP Morgan, Goldman Sachs, and Wells Fargo all reported Q1 EPS strongly above the consensus estimates. Bank stocks have benefitted from the rise in US yields in 2021. The US economic outlook is continuing to brighten on vaccinations and stimulus. Advertisement S&P 500 Continues to Trade Around Highs as Big Banks Beat on Earnings Futures contracts on the S&P 500 point to the index opening around the fresh all-time-highs set yesterday as earnings season kicks off with blowout numbers from some of the largest US banks. JPMorgan reported Q1 EPS of 4.50 versus an estimate of 3.05, Goldman Sachs reported Q1 EPS of 18.60 verses an estimate of 10.06, and Wells Fargo reported Q1 EPS of 1.05 versus an estimate of 0.68. Strength from the financial sector can be a further tailwind to a stronger economic recovery.