The Moment of Truth Has Arrived for Banks

"A well-adjusted person is one who makes the same mistake twice without getting nervous." ... Alexander Hamilton

 Huge day. Really. All week long, the industry has been pointing to this Friday morning. The big banks are kicking off fourth-quarter earnings season in earnest. By the time you read this, the likes of JP Morgan (JPM) -- which is a holding in Action Alerts PLUS, which Jim Cramer co-manages as a charitable trust -- Wells Fargo (WFC) and PNC Financial (PNC) will dominate the headlines. At that point, the macro will take over. Every month, usually on the first Friday, the Bureau of Labor Statistics releases its in-depth snapshot of the nation's employment situation. That's largely considered to be the biggest day of any month for economists. If there is a close second, every month, it is the day when the same BLS prints its data for consumer price inflation (CPI) for the previous month, simultaneously along with the Census Bureau's retail sales data....1419 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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