5 of America's Biggest Banks Report Q2 Earnings Tuesday. Here's What Wall Street Is Watching.

JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C), Goldman Sachs (GS), and Bank of America (BAC) report second-quarter earnings Tuesday, with net interest income taking center stage as the Federal Reserve holds rates at elevated levels.

Net interest income—the spread banks earn between lending and deposit rates—remains the critical metric as sustained higher rates continue to boost profitability from traditional lending operations. The five banks will reveal whether NII peaked or continues expanding in Q2.

Credit-loss provisions offer the clearest window into consumer financial health. Higher provisions signal banks are bracing for defaults, while stable or declining reserves suggest confidence in borrower strength despite elevated interest rates pressuring household budgets.

Investment banking results will show whether deal flow is recovering. Activity in mergers, acquisitions, and underwriting stalled through late 2023 and early 2024, but any uptick in Q2 would confirm Wall Street's return to dealmaking.