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.