Traders are watching to see if one bank makes a trend.
JPMorgan's better-than-expected earnings Wednesday boosted its shares, the financial sector and the entire stock market. So earnings reports from its competitors Bank of America and Wells Fargo could be important to Thursday's trading. BlackRock, PNC Financial, and First Republic Bank also report, as does Delta Air Lines.
The S&P financial sector was up 2.25 percent, in its best day in more than a month. Financials have been running up ahead of earnings. JPMorgan profit fell nearly 7 percent and it earned $1.35 per share but that was better than the $1.26 expected by analysts.
"JPMorgan set the table. If they come through and we see JPMorgan was an anomaly rather than a signal then we could be back where we started. They could all be in the doghouse," said Mark Luschini, chief investment strategist at Janney Montgomery. Bank stocks are still down on the year, and the overall financial sector has fallen about 4 percent.
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