empty
14.07.2023 10:32 PM
Reporting season starts with JPMorgan Chase posting upbeat results in Q2

Today marks the beginning of the reporting season for companies unveiling their earnings in the second quarter of this year, and JPMorgan Chase was the first to announce its profits. The figures exceeded analysts' expectations, as the bank benefited from higher interest rates and growth in interest income.

This image is no longer relevant

Here's what the company reported:

Profit: $4.37 per share, compared to the Refinitiv estimate of $4.

Revenue: $42.4 billion, surpassing the forecast of $38.96 billion.

Despite the regional banking crisis that began in March of this year, the company actually benefited from it, as deposits started flowing into JPMorgan from smaller credit institutions. This helped the bank's stocks rise by 11% this year, in contrast to a 16% decline in the KBW Bank index. When JPMorgan last reported its results in April, its stocks showed the largest profit increase in two decades.

JPMorgan also has the advantage of owning the bankrupt bank First Republic, whose acquisition began in May of this year with the intervention of the US government. According to experts, this acquisition, which added approximately $203 billion in loans and securities and $92 billion in deposits, will undoubtedly help JPMorgan overcome the obstacles faced by the industry.

It is also worth noting that creditors have started setting aside more reserves to cover losses due to expectations of a slowdown in economic growth this year.

It is expected that JPMorgan will create a reserve of $2.72 billion to cover credit losses. The focus will now be on the speech of JPMorgan's CEO, Jamie Dimon, who will discuss the state of the economy and his expectations regarding banking regulation.

Pre-market

Alphabet, the parent company of Google, gained 4.4% after launching its large language model, Bard AI, in Brazil and the European Union.

Shares of semiconductor and artificial intelligence manufacturer NVIDIA rose 2.2%. The company recently announced a $50 million investment in Recursion to aid in the development of AI-based drugs.

Shares of media giant Disney increased by less than 1% after the company announced an extension of CEO Bob Iger's contract for two years until 2026. Following the news, Bank of America reaffirmed its recommendation to buy Disney.

Carvana stocks dropped by 7% after JPMorgan downgraded their rating from "hold" to "sell," stating that the used car dealer's valuation has significantly deviated from fundamental indicators.

As for the technical outlook for the S&P 500, demand for the index remains high. Buyers have a chance to continue the upward trend, but bulls need to push above $4,515 with all their might. From this level, there could be a surge towards $4,539. An equally important task for the bulls will be to maintain control above $4,589, which will strengthen the bullish market. In case of a downward movement due to a decrease in risk appetite, buyers need to hold around $4,488. A break below this level will quickly push the trading instrument back to $4,469 and open the path towards $4,447.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Mercado bursátil el 21 de abril: los índices SP500 y NASDAQ volvieron a caer en medio de nuevos rumores

Al final de la última sesión regular, los índices bursátiles estadounidenses cerraron de forma mixta. El S&P 500 subió un 0,13%, mientras que el Nasdaq 100 cayó un 0,13%

Jakub Novak 08:48 2025-04-21 UTC+2

Mercado bursátil a 18 de abril: los índices SP500 y NASDAQ intentan estabilizarse

Según los resultados de la última sesión regular, los índices bursátiles estadounidenses cerraron de manera mixta. El S&P 500 subió un 0,13%, mientras que el Nasdaq 100 cayó un 0,13%

Jakub Novak 09:01 2025-04-18 UTC+2

Mercado bursátil el 17 de abril: los índices SP500 y NASDAQ se desplomaron tras las declaraciones de Powell

Al cierre de la última sesión regular, los índices bursátiles estadounidenses registraron una fuerte caída. El S&P 500 cayó un 2,24%, mientras que el Nasdaq 100 descendió un 3,07%

Jakub Novak 08:45 2025-04-17 UTC+2

Mercado bursátil el 16 de abril: los índices SP500 y NASDAQ vuelven a caer

Al cierre de la última sesión regular, los índices bursátiles estadounidenses terminaron con pérdidas. El S&P 500 cayó un 0,17%, el Nasdaq 100 bajó un 0,05% y el Dow Jones

Jakub Novak 13:06 2025-04-16 UTC+2

Mercado bursátil eal 15 de abril: los índices SP500 y NASDAQ frenan su crecimiento activo

Al término de la última sesión regular, los índices bursátiles estadounidenses cerraron al alza. El S&P 500 subió un 0,79% y el Nasdaq 100 aumentó un 0,64%. El Dow Jones

Jakub Novak 10:57 2025-04-15 UTC+2

Mercado bursátil el 14 de abril: los índices SP500 y NASDAQ volvieron a crecer en medio de la flexibilización de los aranceles

Tras los resultados de la última sesión regular, los índices bursátiles estadounidenses cerraron con crecimiento. El S&P 500 subió un 1,81%, mientras que el Nasdaq 100 sumó un 2,06%

Jakub Novak 09:17 2025-04-14 UTC+2

Mercado bursátil el 10 de abril: los índices SP500 y NASDAQ mostraron un crecimiento espectacular

Al cierre de la sesión regular de ayer, los índices bursátiles estadounidenses terminaron con una fuerte alza. El S&P 500 subió un 9,52%, mientras que el Nasdaq 100 se disparó

Jakub Novak 11:16 2025-04-10 UTC+2

Mercado de EE. UU.: NASDAQ +12%, SP500 +9.5%. Pero la guerra comercial de Trump con China no ha sido cancelada

S&P500 Resumen 10.04 Mercado de EE. UU.: fuerte alza. NASDAQ +12%, SP500 +9.5%. Principales índices de EE. UU. el miércoles: Dow +8%, NASDAQ +12%, S&P500 +9.5%. S&P500 4983, rango 4800

Jozef Kovach 11:15 2025-04-10 UTC+2

Mercado bursátil el 9 de abril: los índices SP500 y NASDAQ volvieron al mínimo anual

Al cierre de la sesión regular de ayer, los índices bursátiles estadounidenses terminaron con otra caída, quedando a un paso de sus mínimos anuales. El S&P 500 cayó un 1,57%

Jakub Novak 09:13 2025-04-09 UTC+2

Mercado bursátil al 8 de abril: los índices SP500 y NASDAQ se recuperaron ligeramente

Al cierre de la sesión regular de ayer, los índices bursátiles estadounidenses cerraron de forma mixta. El S&P 500 bajó un 0,23%, mientras que el Nasdaq 100 subió un 0,10%

Jakub Novak 11:07 2025-04-08 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.