all posted better-than-expected profit results as the banks benefited from a surge in interest rates. The banks also offered a solid outlook on future net interest income and JPMorgan CEO said he the economy remains resilient.
"The U.S. economy continues to be on generally healthy footings — consumers are still spending and have strong balance sheets, and businesses are in good shape," JPMorgan CEO Jamie Dimon said. Despite the solid earnings results from the big bank, weak retail sales in March weighed down stock prices in early trades. Retail sales fell 1% last month, more than the expected decline of just -0.4%. The March retail sales data extended the decline seen in February and was driven by consumers pulling back on big-ticket item purchases like cars.
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