Business
October 11, 2024
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JPMorgan Chase shares pop 5% after topping estimates on better-than-expected interest income

JPMorgan Chase shares pop 5% after topping estimates on better-than-expected interest income

JPMorgan Chase posted third-quarter results that topped estimates for profit and revenue as the company generated more interest income than expected. Here’s what the company reported: Earnings: $4.37 a share vs. $4.01 a share LSEG estimate Revenue: $43.32 billion, vs. $41.63 billion estimate JPMorgan said profit fell 2% from a year earlier to $12.9 billion, […]

Business
October 10, 2024
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The Fed is finally cutting rates, but banks aren't in the clear just yet

The Fed is finally cutting rates, but banks aren't in the clear just yet

Federal Reserve Board Chairman Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024. REUTERS/Tom Brenner Tom Brenner | Reuters Falling interest rates are usually good news for banks, especially when the cuts aren’t a harbinger of recession. That’s […]