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For J.P. Morgan, caution abounds as the bank increased loan loss provisions, designed to cover possible loan losses amid economic turbulence. Management discussed on a conference call Friday (April 11) discussing first-quarter earnings that at the moment, credit performance is in line with expectations, but its outlook also includes an upward revision to expected unemployment.
Two days after President Donald Trump issued a 90-day pause on higher tariff rates for most countries except China, JPMorgan Chase (JPM 3.14%) CEO Jamie Dimon warned that the "economy is facing considerable turbulence," citing concerns of trade wars, persistent inflation, and fiscal deficits. In JPMorgan's first-quarter earnings call this morning, Dimon placed the odds of a recession at a 50-50 coin flip.
China raises tariffs on US goods to 125%, JPMorgan's Jamie Dimon urges a quick resolution to tariffs
Madison and Brad speak to experts about the implications of Trump's trade policies and what it means for your investments. The US-China trade war heats up as China retaliates against the US with 125% tariffs on all US goods.
JPMorgan Chase & Co. (NYSE:JPM ) Q1 2025 Earnings Conference Call April 11, 2025 8:30 AM ET Company Participants Jeremy Barnum - Chief Financial Officer Jamie Dimon - Chairman & Chief Executive Officer Conference Call Participants Ken Usdin - Autonomous Erika Najarian - UBS John McDonald - Truist Securities Matt O'Connor - Deutsche Bank Steven Chubak - Wolfe Research Gerard Cassidy - RBC Capital Markets Ebrahim Poonawala - Bank of America Jim Mitchell - Seaport Global Securities Betsy Graseck - Morgan Stanley Mike Mayo - Wells Fargo Securities Glenn Schorr - Evercore Saul Martinez - HSBC Operator Good morning, ladies and gentlemen. Welcome to JPMorgan Chase's First Quarter 2025 Earnings Call.
Executives from across the banking industry spoke on Friday about the uncertainty surrounding the Trump administration's tariffs, the stock market, and the possibility of a recession.
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Trade between the U.S. and China -- worth $582 billion in 2024 -- has apparently ground to a halt.
Another earnings season is kicking off, with JPMorgan Chase & Co (NYSE:JPM) and Morgan Stanley (NYSE:MS) kicking the floodgates open.
JPMorgan Chase & Co. reported strong Q1 earnings, beating expectations with a 4% revenue and 6% EPS beat, despite macroeconomic uncertainties. The bank's commercial and investment banking unit excelled, with investment banking fees up 12% and overall markets & securities revenue rising 19%. JPMorgan's asset & wealth management unit saw net revenues grow 12% and net earnings rise 23%, benefiting from a 15% increase in assets under management.