Wells Fargo (WFC) says activity has been very stable and very resilient across businesses; May debt and credit card spend +9% Y/Y, higher gas prices was a key driver
- Credit performance is running a little better than we model each month across all portfolios, with that favourable trend continuing.
- Sees opportunity in equity capital markets and advisory segments.
- Continuing to see market share growth in investment banking.
- "Very confident" in NII guidance for 2026.
- Expects "step up" in NII in Q2.
- Loan growth is performing well and will be a little bit better than what was modeled.
- No changes to the expense guidance for 2026.
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