Wells Fargo CEO calls consumers 'extremely resilient'

Group 1 - The CEO of Wells Fargo, Charlie Scharf, expressed a positive outlook on the consumer landscape, stating that consumer resilience is strong and spending is increasing at a measured pace [1] - Deposit balances at Wells Fargo remain robust, and credit quality is performing extremely well, indicating a healthy financial environment [1] - The most recent quarterly results exceeded Wall Street expectations, leading to a more than 4% surge in shares following the report, despite a decline in net interest income [1] Group 2 - Scharf noted that while quarterly results are important, the market tends to react more strongly to these reports than the management does, as evidenced by the stock's fluctuations [2] - The CEO maintained a neutral stance regarding the potential impact of the upcoming presidential election on business, expressing willingness to work with both candidates [2]