JPMorgan Chase Higher In Volatile Session After Q1 Beat

Amid the growing uncertainties over the USA economy, the biggest names in the financial industry are set to release their earnings report on Thursday.

Wells Fargo & Co WFC.N and Citigroup Inc C.N also reported results on Thursday, with Citi showing similar gains in trading and Wells Fargo hurt by a slowdown in mortgage lending.

JPMorgan Chase reported first-quarter earnings and revenue that easily topped estimates, lifted by better-than-expected loans growth and trading sales. The stock traded at a volume of 3.71 million shares. (JPM) reported its EPS in the last quarter as $1.58/Share beating the analyst estimate of $1.44/Share by the difference of $0.14.

“Geopolitics continues to weigh on investor sentiment, as safe-haven flight into precious metals and bonds remains prevalent”, Croft from Accendo Markets said. Equities trading revenue grew up 1.9%. Wells Fargo’s weaker results in its large mortgage business in Q1 could also be a concern as it tries to fix its reputation following a massive sham-account scandal.

JPMorgan shares dropped 1% this year through Wednesday, the second-best performance among the six biggest USA banks. That’s something to be watched. He said, however, JPM is “very careful” with its exposure, and he expects the bank to weather the storm in retail the way it navigated the plunge in oil prices back in 2014. That appeared to unsettle the market, and some of that concern seems like it might have carried over into Thursday morning. We make no recommendation that the securities of the companies profiled or discussed in on our website should be purchased, sold or held by investors.

“It won’t be a big deal”, he said. Bank of America (BAC), also reporting next week, inched 0.5% lower.

During last 3 month it remained at -1.37%.

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Another possible sign of continued caution: Defensive sectors like utilities, consumer staples, telecom, and health care outperformed traditional growth sectors like industrials, materials, and financials on Wednesday.

The biggest US bank by assets posted revenue of $27.65 billion in the period. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. For illustrative purposes only. The week is short, as the major equity markets are closed on Friday in observance of Good Friday. That’s why we have the somewhat odd occurrence of getting key economic data on a day it can’t be traded.

On 1/17/2017 Douglas B Petno, CEO, sold 6,728 with an average share price of $84.16 per share and the total transaction amounting to $566,228.48. This is a near-term estimation for the next 12-18 months.

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The one area of concern is in the consumer banking business. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Instinet raised their price objective on JPMorgan Chase & Co. from $82.00 to $83.00 and gave the company a hold rating in a research report on Wednesday, March 1st.

“Solid and positive”, wrote Susan Roth Katzke, an analyst at Credit Suisse, in a reaction note to clients, citing particularly strong growth in trading and investment banking.