JPMorgan Chase, Wells Fargo, Goldman Sachs, and Citigroup are scheduled to report fourth-quarter earnings Wednesday.

In a report released yesterday, Mike Mayo from Wells Fargo maintained a Buy rating on JPMorgan Chase & Co. (JPM – Research Report). The

Wells Fargo has shifted its focus from home mortgages to credit cards, which are increasingly popular for payments as well as lending.

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%.

JPMorgan Chase & Co.'s Chief Executive Jamie Dimon said the U.S. economy remains "resilient" but he remains wary of inflation and uncertain geopolitics. "Unemployment remains relatively low, and consumer spending stayed healthy,

JPM and WFC are preparing to release their Q4 earnings, with strong bullish momentum for JPM and cautionary signals for WFC. Analysts forecast positive results for JPM, while WFC may experience a minor pullback.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

JPMorgan Chase reported fourth-quarter results Wednesday that came in above analysts' expectations as investment banking fees rose.

Expectations for a pro-business climate under the incoming Trump administration has lifted the spirits of major bank executives.

The S&P 500 gained 1% on Friday, capping off the last trading day of Biden's presidency and marking the best week since the election.

Two years ago, Goldman Sachs Group Inc. Chief Executive David Solomon was on the ropes after he made the difficult decision to scale back the bank's push into the consumer banking space in a move that resulted in at least $3 billion in losses as well as layoffs.