JPMorgan Chase & Co kick things off for banks on Thursday

JPMorgan Chase & Co is a financial holding company which is engaged in investment banking and financial services. It operates in four segments which is Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management.

JPMorgan Chase & Co is the largest of the retail banks in terms of assets under management, and the bank kick things off for banks when its reports Q2 earnings Thursday 14 July before the market opens.




Across the board, the banking sector will be impacted by the Brexit vote, low-interest rates and currency headwinds. The rebound in the oil market and gas prices will alleviate pressure on energy loan losses going forward.

Last quarter, JPMorgan reported increases in consumer banking and asset management sectors. Net interest income increased as well, despite rates staying close to zero during the period. However, significant declines were seen in commercial and investment banking sectors.

The Estimize consensus is looking for earnings per share of $1,44 on revenue of $23,83 billion, 1 cent higher than Wall Street on the bottom line and $50 million on the top. compared to year earlier this represents a 7% decline in earnings and 3% in sales.

Shares of JPMorgan are down 5% YTD and typically don`t react to quarterly results.



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