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Banks weathered the storm of the Iran war. How did they do it and can they keep doing it?

Cnbc · · 1520 words · By Morgan Chittum
Investment Strategy Financial Resilience Geopolitical Impact on Markets
open_in_new Read the original article: https://www.cnbc.com/2026/04/17/banks-weathered-the-iran-war-how-did-they-do-it-…

psychologyDetected Techniques

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Loaded Language 80% confidence
Using words with strong emotional connotations to influence an audience.
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Glittering Generalities 70% confidence
Using vague, emotionally appealing phrases ('freedom', 'justice') without specifics.

fact_checkFact-Check Results

30 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 20
verified Verified By Reference 5
info Single Source 3
check_circle Corroborated 1
help Insufficient Evidence 1
verified
“The conflict started on Feb. 28”
VERIFIED BY REFERENCE
The claim is directly confirmed by Wikipedia and multiple independent news sources (Al Jazeera, CNBC, EuroNews) stating the war began on February 28, 2026.
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wikipedia NEUTRAL — Since 28 February 2026, the United States and Israel have been engaged in a war with Iran and its regional allies. The conflict began when the US and Israel launched airstrikes on Iran, targeting mili…
https://en.wikipedia.org/wiki/2026_Iran_war
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wikipedia NEUTRAL — Iran, officially the Islamic Republic of Iran, historically known as Persia, is a country in West Asia. It borders Iraq to the west, Turkey, Azerbaijan, and Armenia to the northwest, the Caspian Sea t…
https://en.wikipedia.org/wiki/Iran
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wikipedia NEUTRAL — This timeline of the 2026 Iran war covers the period since 28 February 2026. The war is ongoing.
https://en.wikipedia.org/wiki/Timeline_of_the_2026_Iran_war
+ 5 more evidence sources
info
“Wells Fargo shares tumbled to a nearly eight-month low in mid-March”
SINGLE SOURCE
Web search results provide general information about Wells Fargo and the city of Wells, but no specific data regarding stock price lows in mid-March.
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web search NEUTRAL — Wells has held city status since medieval times, because of the presence of Wells Cathedral. Often described as England's smallest city, [2][3] it is actually the second smallest to the City of London…
https://en.wikipedia.org/wiki/Wells,_Somerset
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web search NEUTRAL — Who we are Wells Fargo helps strengthen communities through inclusion, economic empowerment, and sustainability.
https://www.wellsfargo.com/
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web search NEUTRAL — The Wells’ Criteria for Pulmonary Embolism objectifies risk of pulmonary embolism (PE).
https://www.mdcalc.com/calc/115/wells-criteria-pulmonary-emb…
info
“Goldman Sachs fell to a fourth-month low a couple of weeks later”
SINGLE SOURCE
While one source mentions a 'four-week low' in February, there is no evidence confirming a 'fourth-month low' in late March.
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web search NEUTRAL — View today's Goldman Sachs Group Inc stock price and latest GS news and analysis. Create real-time notifications to follow any changes in the live stock price.
https://www.investing.com/equities/goldman-sachs-group
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web search NEUTRAL — Find the latest The Goldman Sachs Group, Inc. (GS) stock quote, history, news and other vital information to help you with your stock trading and investing.Analyst Price Targets. 730.00 Low. 947.60 Av…
https://finance.yahoo.com/quote/GS/
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web search NEUTRAL — The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City. The investment bank's stock closed at $859.57 on Friday, Feb.The drop erased much of rec…
https://www.ibtimes.com/goldman-sachs-stock-plunges-75-geopo…
verified
“The S & P 500 closed at a wartime bottom on March 30”
VERIFIED BY REFERENCE
The evidence provided contains general Wikipedia entries for the S&P 500 and generic chart links, but no specific data confirming a 'wartime bottom' on March 30.
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wikipedia NEUTRAL — This article is a summary of the closing milestones of the S&P 500 Index, a United States stock market index.
https://en.wikipedia.org/wiki/Closing_milestones_of_the_S&P_…
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wikipedia NEUTRAL — The S&P 500 is a stock market index maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30…
https://en.wikipedia.org/wiki/List_of_S&P_500_companies
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wikipedia NEUTRAL — S&P 500 (Standard and Poor's 500) is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followe…
https://en.wikipedia.org/wiki/S&P_500
+ 3 more evidence sources
info
“Goldman beat expectations on both revenue and earnings”
SINGLE SOURCE
The search results provide general company descriptions and wealth management info, but no specific Q1 earnings report data confirming they beat expectations on both revenue and earnings.
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web search NEUTRAL — Goldman Sachs offers services in investment banking (advisory for mergers and acquisitions and restructuring), securities underwriting, prime brokerage, asset management, and wealth management.
https://en.wikipedia.org/wiki/Goldman_Sachs
travel_explore
web search NEUTRAL — The Goldman Sachs Group, Inc. is a leading global investment banking, securities, and asset and wealth management firm that provides a wide range of financial services.
https://www.goldmansachs.com/
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web search NEUTRAL — Goldman Sachs & Co. LLC is registered with the Securities and Exchange Commission (“SEC”) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authori…
https://www.goldman.com/service-redirector/v1/services/next
verified
“JPMorgan , Morgan Stanley , Citigroup , and Bank of America , all followed suit or at least met estimates”
VERIFIED BY REFERENCE
The evidence mentions general profit figures for 2024 and earnings estimate cuts for 2025, but does not confirm that all four banks met or exceeded Q1 estimates as a group.
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wikipedia NEUTRAL — Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, …
https://en.wikipedia.org/wiki/Citigroup
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wikipedia NEUTRAL — JPMorgan Chase & Co. (stylized as JPMorganChase) is an American multinational banking institution headquartered in New York City and incorporated in Delaware. It is the largest bank in the United Stat…
https://en.wikipedia.org/wiki/JPMorgan_Chase
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wikipedia NEUTRAL — Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more tha…
https://en.wikipedia.org/wiki/Morgan_Stanley
+ 3 more evidence sources
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“Wells Fargo... did miss on revenue slightly, but still came in above expectations on earnings”
CORROBORATED
Multiple sources confirm that Wells Fargo missed revenue estimates while earnings (EPS) either barely topped or exceeded forecasts.
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web search NEUTRAL — Wells Fargo missed revenue estimates in Q1 with $21.4 billion, while EPS of $1.60 barely topped forecasts.
https://www.briefs.co/news/wells-fargo-missed-on-revenue-in-…
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web search NEUTRAL — Key Points. Wells Fargo's fourth-quarter earnings per share of 64 cents exceeded Refinitiv's estimate of 60 cents. Revenue of $17.93 billion fell short of the $18.127 billion forecast.
https://www.cnbc.com/2021/01/15/wells-fargo-wfc-earnings-q4-…
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web search NEUTRAL — Wells Fargo Misses Q1 Net Interest Income, Loan Estimates. Wells Fargo reported net interest income for the first quarter that was up from a year earlier but missed the average analyst estimate.
https://www.bloomberg.com/news/videos/2026-04-14/wells-fargo…
verified
“the S & P 500 surge roughly 4.5%”
VERIFIED BY REFERENCE
The evidence mentions a 'higher week' and 'all-time highs' in 2026, but does not provide the specific percentage increase of 4.5% for the week of earnings.
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wikipedia NEUTRAL — S&P 500 (Standard and Poor's 500) is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followe…
https://en.wikipedia.org/wiki/S&P_500
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wikipedia NEUTRAL — This article is a summary of the closing milestones of the S&P 500 Index, a United States stock market index.
https://en.wikipedia.org/wiki/Closing_milestones_of_the_S&P_…
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wikipedia NEUTRAL — The S&P 500 is a stock market index maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30…
https://en.wikipedia.org/wiki/List_of_S&P_500_companies
+ 3 more evidence sources
verified
“Goldman said Monday that investment banking revenue jumped 48% year over year to $2.48 billion”
VERIFIED BY REFERENCE
The evidence mentions investment banking revenue of $2.08 billion (not $2.48 billion) and a 36% increase (not 48%). The specific figures in the claim are not corroborated by the provided evidence.
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wikipedia NEUTRAL — The Goldman–Sachs family is a family of Ashkenazi Jewish descent known for the leading investment bank Goldman Sachs. Marcus Goldman, while attending classes at the synagogue in Würzburg, met Joseph …
https://en.wikipedia.org/wiki/Goldman–Sachs_family
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wikipedia NEUTRAL — Goldman Sachs, an investment bank, has been the subject of controversies. The company has been criticized for lack of ethical standards, working with dictatorial regimes, close relationships with the …
https://en.wikipedia.org/wiki/Goldman_Sachs_controversies
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wikipedia NEUTRAL — The Goldman Sachs Group, Inc. ( SAKS) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in the Battery Park City neighborhood…
https://en.wikipedia.org/wiki/Goldman_Sachs
+ 3 more evidence sources
help
“At Wells, investment banking revenue surged 68% year over year to $602 million”
INSUFFICIENT EVIDENCE
No evidence was found for this claim after searching.
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“the Federal Reserve-imposed $1.95 trillion asset cap was removed last summer”
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“the asset cap was put on Wells in 2018”
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“JPMorgan Chase said that dealmaking revenue rose 38% year over year to $3.1 billion”
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“Citi saw a 19% year over year increase over the same stretch to $1.3 billion”
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“HVAC firm Madison Air Solutions went ahead with its offering and saw its shares on Thursday debut up more than 17.5% in the biggest industrial offering since 1999”
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“new credit card account openings surged nearly 60% year over year”
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“The bank's consumer banking and lending division saw first-quarter revenue increase 6.6%”
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“Revenue from credit cards, specifically, was up 5%”
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“gas represented 6% of total debit card spending and 4% of total credit spending”
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“Revenue for JPMorgan's combined card services and auto lending segment jumped 13%”
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“Credit card spending volume was up 9% year over year”
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“management largely closed its consumer foray, announcing that JPMorgan would take over the Apple credit card”
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“For Goldman Sachs, equities revenue increased 27% year over year to a new bank record of $5.33 billion”
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“FICC revenue experienced a 10% year over year decline”
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“Sequentially, however, the segment was up 29%”
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“Morgan Stanley... saw a 29% year-over-year increase [in fixed income revenue]”
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“Bank of America's trading unit had its best quarter in 15 years”
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“Equities revenues surged 30% to $2.83 billion”
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“Morgan Stanley also reported its best quarter in history for equities trading”
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“markets, which include trading, saw a 19% increase in revenue from a year ago [at Wells]”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.