earnings season kicks off, the market looks set to open higher after several major banks have already reported better-than-expected results, a sign that the Federal Reserve’s rate cut isn’t having as big of a negative impact on financial companies as Wall Street feared.
As of 8:45 a.m. EST, S&P 500 futures were up 0.23%, while futures for the Dow Jones Industrial Average were up 0.49%.J.P.Morgan Chase shares surged Tuesday morning, after the bank reported of over $30 billion and better-than-expected profit, which was 23 cents a share higher than Wall Street estimates.also beat expectations, by 19 cents a share, with the company’s assets under management also rising 8% to just under $7 trillion, although year-over-year profits fell slightly.: The bank reported sliding profits, with earnings of $1.12 a share slightly lower than the $1.15 expected—although revenue did come in slightly higher than expected.
Citigroup’s third-quarter earnings also came in higher than expected, with both profit and revenue just beating out Wall Street estimates, thanks to strong trading results that
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: Forbes - 🏆 394. / 53 Read more »