JPMorgan profit beats estimates on investment-banking strength, shares jump

-JPMorgan Chase shares climbed 5% on Friday after profit at the biggest U.S. bank beat expectations in the third quarter, fueled by gains in investment banking and rising interest payments.

Net interest income - the difference between what the bank earns on loans and pays on deposits - grew 3% in the quarter. "We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse," Dimon said in a written statement.

"I've always been an American patriot and my country is more important to me than my company," said Dimon, who has not publicly endorsed a presidential candidate, on a call with analysts. Still, consumer finances and spending remain resilient in a strong job market, Barnum said, and late payments on loans are normalizing from historically low levels.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: Wells Fargo, JPMorgan, Tesla, Stellantis and moreThese are the stocks posting the largest moves in premarket trading.
Source: CNBC - 🏆 12. / 72 Read more »

JPMorgan is a dud every time it kicks off earnings season this yearAccording to data from Bespoke Investment Group, the investment bank hasn't started off any of this year's earnings seasons on an upbeat note.
Source: CNBC - 🏆 12. / 72 Read more »