JPMorgan Just Had the Most Profitable Year in the History of Banking
- Stocks drop across finance industry as earnings season begins
- ‘Earnings bring us back to the underlying results’: analyst
JPMorgan Chase & Company reported second-quarter results that showed FICC sales and trading revenue that missed estimates. Bloomberg's Alison Williams and Charles Peabody, analyst at Compass Point, examine the results on 'Bloomberg Daybreak: Americas.' (Source: Bloomberg)
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The optimism that fueled U.S. bank stocks after Donald Trump’s election is starting to fade.
JPMorgan Chase & Co. toned down its outlook for loan growth and interest income in the second half, while Wells Fargo & Co. reported a drop in lending that surprised some analysts. Citigroup Inc. joined both in posting less trading revenue as clients pull back from betting amid congressional gridlock.