Finance

A midweek rally followed robust bottom-line results from JPMorgan Chase, Wells Fargo, Bank of America and several other large banks. But further interest rate cuts may be needed to sustain momentum.

The bank is "very optimistic" that Trump will appoint financial regulators who are "more balanced" than current agency heads, CFO Daryl Bible said.

As Donald Trump returns to the White House, Goldman Sachs is looking forward to the "improving regulatory backdrop."

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

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."

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

The Labor Department estimates the economy added 256,000 jobs in December, indicating a resilient economy and labor market. For the Federal Reserve, which was already signaling a slowdown in rate cuts, the reading could justify holding rates steady.

Regulatory shifts and loan growth are some of the hot-button topics banks will seek to address as they start sharing their fourth-quarter reports next week.

The financial data firm Intercontinental Exchange is buying the firm that runs the Ameribor interest rate benchmark, which some community and regional banks back as a LIBOR alternative.

The industry should save on interest expenses this year as it follows the Fed's lead in cutting rates. The downside is that the lower deposit rates signal fewer opportunities to make loans.