JPMorgan Chase (JPM) shares dropped more than 5% on Tuesday, recording their largest one-day decline since June 2020, after the bank's president said Wall Street's expectations for net interest income and expenses in 2025 were overly optimistic amid impending interest rate cuts and lingering inflation.
Bank stocks slumped on Tuesday as a torrent of unsettling business updates pouring out of an industry conference overshadowed a major regulatory win for the industry.
NEW YORK--(BUSINESS WIRE)--As previously announced, JPMorgan Chase & Co. (NYSE: JPM) (“JPMorganChase” or the “Firm”) will host a conference call to review third-quarter 2024 financial results on Friday, October 11, 2024 at 8:30 a.m. (EDT). The results are scheduled to be released at approximately 7:00 a.m. (EDT). The live audio webcast and presentation slides will be available on www.jpmorganch...
President Daniel Pinto has suggested that next year's Wall Street expectations are too optimistic, sending the stock to its worst single day decline since June 2020.
Bank stocks are in focus today, after Federal Reserve Vice Chairman for Supervision Michael Barr announced a revised draft of the Basel rule, also known as "Basel Endgame.
JPMorgan Chase & Co. (NYSE:JPM ) Barclays Global Financial Services Conference 2024 September 10, 2024 9:45 AM ET Company Participants Daniel Pinto - President and Chief Operating Officer Unidentified Analyst Moving right along, very pleased to have JPMorgan Chase with us once again from the company we have Daniel Pinto, President and Chief Operating Officer. Daniel, thank you.
JPMorgan Chase shares fell 7% Tuesday after the bank's president told analysts that expectations for net interest income were too optimistic. The current estimate for NII -- one of the main ways that banks earn money -- of $89.5 billion is too high given expectations for interest rates, JPMorgan president Daniel Pinto told an audience at a financial conference.
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