J.P. Morgan's Dimon: The headwinds in the economy are substantial

JPM Dimon is speaking after announcing strong earnings and says:The headwinds in the economy are substantial and somewhat unprecedentedthe company has been over earning on credit for some timeIts CFO added that M&A market is still continuing to face headwindsExpect modest deposit decline across the franchiseWoe is me.J.P. Morgan earned $4.37 versus $4 expected on revenues of $41.3 billion versus $38.96 billion. Shares are currently up $4.24 or 2.85% in premarket trading at $153.11. That's all-time high reached $172.71 back in October 2021. It's corrective low going back to October 2022 reached $101.28. For the year, the stock was up 11% at the close yesterday. That is less than the S&P index, but relatively speaking it is beating its appears. Citigroup shares are up 5.42% and Wells Fargo shares are about 5.86% this year.Meanwhile Citigroup CFO says that:base case is for a mild recession, but the US economy has proven to be quite resilient This article was written by Greg Michalowski at www.forexlive.com.

Jul 15, 2023 - 02:30
J.P. Morgan's Dimon: The headwinds in the economy are substantial

JPM Dimon is speaking after announcing strong earnings and says:

  • The headwinds in the economy are substantial and somewhat unprecedented
  • the company has been over earning on credit for some time

Its CFO added that

  • M&A market is still continuing to face headwinds
  • Expect modest deposit decline across the franchise

Woe is me.

J.P. Morgan earned $4.37 versus $4 expected on revenues of $41.3 billion versus $38.96 billion. Shares are currently up $4.24 or 2.85% in premarket trading at $153.11. That's all-time high reached $172.71 back in October 2021. It's corrective low going back to October 2022 reached $101.28. For the year, the stock was up 11% at the close yesterday. That is less than the S&P index, but relatively speaking it is beating its appears. Citigroup shares are up 5.42% and Wells Fargo shares are about 5.86% this year.

Meanwhile Citigroup CFO says that:

  • base case is for a mild recession, but the US economy has proven to be quite resilient
This article was written by Greg Michalowski at www.forexlive.com.
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