The Club’s 10 things to watch Wednesday, Jan. 14 1. The S & P 500 was on track for a lower open this morning as traders digested more bank earnings. This follows a losing session on Wall Street yesterday on JPMorgan ‘s underwhelming quarter. Investment banking fees for the firm’s fourth quarter disappointed investors. Other bank stocks fell in sympathy, including Club holdings Wells Fargo and Goldman Sachs , which reports tomorrow. 2. Wells Fargo stock fell another 2.5% this morning after the firm slightly missed on revenue. Earnings per share (EPS) of $1.76 (excluding severance expenses) beat estimates of $1.66. Wells also bought back $5 billion worth of shares. The company’s 2026 net interest income (NII) is expected to come in at roughly $50 billion, up from $47.5 billion in 2025. However, it’s a little below the consensus estimate of $50.2 billion. 2026 expenses were guided to $55.7 billion, up from $54.8 billion last year. That’s just below the consensus of $55.8 billion. 3. Bank of America reported a strong fourth quarter, surpassing estimates on both revenue and EPS. Net Interest Income increased 9.7% to nearly $16 billion, beating analysts’ estimates. Equities trading revenue beat, but fixed income trading was a small miss. The bank expects NII to increase 5% to 7% in 2026, which is about in line with estimates. Management also expects to achieve 200 basis points of operating leverage. 4. Citigroup reported better than expected EPS and revenue in the fourth quarter on increases in banking, wealth, and institutional services. The results were encouraging as CEO Jane Fraser continues to restructure operations. Like other banks, such as BofA, Citigroup set aside less loan loss provisions, an optimistic sign about borrowers’ ability to pay back debt. 5. TD Cowen downgraded BlackRock to hold from buy, and cut its price target on the asset manager to $1,209 from $1,407. Analysts say that the financial stock lacks positive catalysts heading into 2026. Still, the firm likes BlackRock in the long run. The Club name is down 1% early this morning. 6. Mortgage rates have tumbled to some of their lowest levels in years. The contract rate of a 30-year mortgage fell 7 basis points to 6.18% last week, according to new data from the Mortgage Bankers Association. Those levels haven’t been seen since 2022. The release offers hope for the lackluster housing market – a positive for home improvement retailers like Club holding Home Depot . 7. Reuters reported that Beijing has told Chinese companies to stop using cybersecurity software made by U.S. and Israeli firms. Club holdings Palo Alto Networks and Broadcom ‘s VMware are among those that have been banned. To be sure, Palo Alto’s revenue exposure to China is minimal. Plus, cyber at VMware is a small part of chipmaker Broadcom’s overall business. Still, shares of both were down on the news. 8. The Commerce Department said late yesterday that Club name Nvidia can sell its H200 AI chips in China. These advanced processors had previously been prohibited over national security worries that China would use them for its military. But the U.S. recently relented as the two economies navigate trade issues. Separately, we’re watching whether the Supreme Court decides today on whether President Donald Trump’s tariffs are legal. 9. Quantinuum plans to go public at a time when quantum computing companies have caught fire on Wall Street. Back in September, Quantinuum, which is majority owned by Club name Honeywell, raised $600 million from investors, including Nvidia’s VC arm, at a $10 billion valuation. This is another step in Honeywell’s efforts to streamline. The industrial conglomerate has already spun off its advanced materials business. Later this year, it will split automation and aerospace. 10. Jefferies raised its price target on Club name GE Vernova to $865 From $830 and maintained its buy rating. The analysts expect fourth-quarter results to be stronger than current Street estimates. Orders for natural gas turbines, which can provide extra power for data centers, are the thing to watch when GE Vernova reports earnings in two weeks. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
