Earnings season is getting underway with JPMorgan Chase on Friday, but don't expect its third-quarter results to turn the market around.
So far this year, the investment bank has not started the season off upbeat, as shares have fallen in every postearnings trading session.
However, he also noted that net interest income may be under pressure.
"NII should be modestly lower in the quarter, due to some [net interest margin] compression," he wrote in a note to clients Wednesday.
"In addition, results should be impacted by seasonally lower trading activity (flat to up 2% y-o-y) while asset quality continues to normalize."
Persons:
Jason Goldberg, Goldberg
Organizations:
JPMorgan Chase, Investment Group, JPMorgan, Barclays