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 The company is scheduled to report fourth-quarter earnings before the market opens on Wednesday.
Here’s what Wall Street expected:
- Earnings per share were $4.11, according to LSEG
- Revenue: $41.7 billion, according to LSEG
- Net interest income: $23.1 billion, according to StreetAccount
- Trading revenue: $4.42 billion in fixed income and $2.37 billion in equities, according to StreetAccount
JPMorgan’s results will be closely watched for signs that industry optimism is well-founded.
The banking sector has several reasons to be bullish at the end of the year: Wall Street activity has picked up while Main Street consumers remain resilient, and Donald Trump’s election victory has raised hopes of loosening regulations.
JPMorgan Chase, the largest U.S. bank by assets, will benefit in many ways.
Last month, executives said investment banking revenue would gushing It grew 45% in the fourth quarter, and trading revenue will grow about 15%.
Additionally, the bank said its latest forecast for 2025 net interest income is $2 billion higher than its previous guidance, leading analysts to speculate that fourth-quarter NII will also beat expectations.
While business is booming, analysts are likely to ask questions about CEO Jamie Dimon after No. 2 executive Daniel Pinto said he would step down as chief operating officer in June. ) asked about his succession plan. Dimon said last year that he might step down as CEO within five years.
Another question is how the changing outlook for rate cuts from the Federal Reserve will affect the bank’s overall business. Although Fed officials expect two more rate cuts this year, economic indicators may lead to a pause in rate cuts.
Finally, analysts are likely to pressure JPMorgan to know how it plans to handle it if Trump regulators propose a dodgy version of Basel 3 endgame, as the potential nominee has backed. Possible windfall. Dimon said last May that share buybacks would be curbed because of expensive stock prices, but they have been climbing since then.
In addition to JPMorgan Chase, Goldman SachsWells Fargo and Citigroup Quarterly and full-year results will also be reported on Wednesday, while Bank of America and Morgan Stanley are due to report on Thursday.
This story is developing. Please check back for updates.
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