On May 13, 2024, Chase CEO Jamie Dimon attended the seventh “Choose France Summit” held at the Palace of Versailles outside Paris, aiming to attract foreign investors to France.
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JPMorgan Chase It is scheduled to release third-quarter earnings before the market opens on Friday.
Here’s what Wall Street expected:
- Earnings per share were $4.01, according to LSEG
- Revenue: $41.63 billion, according to LSEG
- Net interest income: $22.73 billion, according to StreetAccount
- Trading revenue: $4.38 billion in fixed income and $2.41 billion in equities, according to StreetAccount
JPMorgan will be closely watched for clues on how the bank will perform at the start of the Fed’s easing cycle.
The largest U.S. bank has thrived in a rising interest rate environment, posting record net income figures since the Federal Reserve began raising rates in 2022.
Now, with the Fed cutting interest rates, there are questions about how JPMorgan will respond to the change. Like other large banks, the bank’s profit margins are likely to be squeezed as yields on interest-earning assets such as loans fall faster than funding costs.
Last month, JPMorgan lowered its forecast for net interest income and expenses in 2025, and analysts wanted more details on those forecasts.
Analysts also want to hear what JPMorgan CEO Jamie Dimon has to say about the upcoming U.S. election and the industry’s fight to fend off a series of regulatory moves to rein in fees and force banks to hold more capital. effort.
JPMorgan shares are up 25% this year, outpacing the KBW Bank Index’s 20% gain.
Wells Fargo Results are due to be announced later on Friday, while Bank of America, Goldman Sachs, Citigroup and Morgan Stanley Report next week.
This story is developing. Please check back for updates.
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