JPMorgan briefly spikes after top executive touts better-than-expected Q4 growth
Trending Articles- International Oil Prices Retreat Rapidly; G-7 to Discuss Emergency Oil Reserve Release
- Senate to vote on Trump’s pro-Bitcoin Fed pick as BTC hits four-week high
- Gold slumps below $5,100 as US Dollar gains
- Gold slumps to near $5,050 on oil-driven inflation fears, stronger US Dollar
- WTI climbs back closer to $72.00 as closure of Strait of Hormuz fuels supply concerns
- US Dollar Index gathers strength to near 99.00 on Middle East tensions, robust US services data
Investing.com -- JPMorgan briefly spiked Tuesday after a top executive touted a strong outlook for the fourth quarter and year ahead.
JPMorgan Chase&Co (NYSE:JPM) jumped before paring gains to trade flat following the news.
The bank's Q4 net interest income is expected to be better than expected, while investment banking fees could rise 45% from a year earlier, Marianne Lake, CEO of Consumer and Community Banking at JPMorgan Chase said Tuesday, Bloomberg reported. Analysts expected net interest income of $92.43B for the December quarter.
Trading revenue in Q4, meanwhile, could climb mid-teens or more from a year earlier, Lake added.
Looking further ahead to 2025, Lake estimated net interest income could come in $2B higher than current estimate.
The bullish outlook comes even as economic strength is expected to continue next year, albeit at a more moderate pace, underpinned by ongoing rate cuts, slowing inflation and a still resilient consumer.
Global Growth is projected to slow to 2.2% in 2025 from 2.7% in 2024m with U.S. GDP growth forecast to slow 2.0% from a 2.4% annual pace, while China falls to 3.2% from 4.8%.
Global inflation is expected to slow to a pace of 2.7% from 3%, with the rates of disinflation varying globally.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
