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☆ Bye-bye bitcoin, hello AI: Texas miners leave crypto for next new wave
▼ + stars: | 2024-07-18 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

watch nowThere are a lot of synergies between the bitcoin mining and AI infrastructure businesses. watch nowBeefing up the gridFor years, Crusoe's work has been virtually synonymous with the bitcoin mining industry. But Crusoe's Lochmiller told CNBC that AI infrastructure has actually been part of the vision since the company's founding six years ago. Back in 2018, Fenn says that the only load that was a good fit for this was bitcoin mining. "That has all changed now, with AI data centers optimized for massive scale energy availability, cost, and greenness.

Persons: Nolan, Robert Daemmrich, Ali Fenn, Chase Lochmiller, Crusoe's, JPMorgan Chase, Asher Genoot, Riley, CoreWeave, Crusoe's Lochmiller, Lancium's Fenn, Lancium, Fenn Organizations: Corbis, American, Energy Systems, CNBC, Mining, JPMorgan, Nvidia, CoreWeave, Core, ExxonMobil, Crusoe Industries, Miners Locations: Buffalo, Taylor, Abilene , Texas, West Texas, Abilene, Houston, Denver, U.S, Iceland, Miami, North Dakota, Texas

☆ Wall Street 'bake offs' are back. Here's what it means for dealmaking, according to Morgan Stanley CEO Ted Pick.
▼ + stars: | 2024-07-16 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

Read previewWhen Morgan Stanley reported earnings on Tuesday, it wasn't the first bank to make hay over the coming "investment-banking rebound." Top executives up and down across Wall Street have been talking for days about their predictions that Wall Street's bread-and-butter business of advising and financing deals could soon come roaring back. And the parade of optimism has only heated up this year as investment-banking revenues have started the slow climb from historical lows. AdvertisementIB revenues surgingLike many of the other Wall Street banks that reported earnings in recent days, Morgan Stanley saw investment-banking revenues soar in the second quarter. And as Pick said on Tuesday, Wall Street is getting excited about more than just traditional dealmaking, but also the financing and other hedging strategies that come with companies getting off the sidelines.

Persons: —, Morgan Stanley, Mike Mayo, Mayo, Morgan, Ted Pick, Pick, Goldman Sachs, Goldman, Solomon, Chase, It's, It'd Organizations: Service, Wells, Wells Fargo Securities, Business, Wall, Reserve, quicken, Goldman, Bank of America Locations: Wells Fargo, issuances, Mayo

☆ Stocks are booming in 2024, but financial advisors say it may be time to get a little defensive
▼ + stars: | 2024-07-16 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

With the S & P 500 surging more than 18% in 2024, it might be time for investors to make a few defensive moves in their portfolios. But that surge is spurring some financial advisors to reassess their clients' exposure to large-cap tech and turn toward currently unloved asset categories that could be poised to rise. "It might take a little longer to manifest but we think [health care] is an interesting combination of offense and defense, and it provides meaningful cash flows for investors," Saccocia said. Checking in on risk and cash Investors reviewing their 2024 gains should also reassess their risk profile and consider whether their asset allocation reflects their long-term goals. Tom Balcom, CFP and founder of 1650 Wealth Management in Lighthouse Point, Florida, has used custom market-linked notes to hedge clients' exposure to the market.

Persons: Nvidia —, Shon Anderson, Russell, Jerome Powell's, Shannon Saccocia, Neuberger Berman, Saccocia, Colin Gerrety, Gerrety, Tom Balcom, Balcom, Morningstar Organizations: Nvidia, Anderson Financial, Federal, Big Tech, Investors, JPMorgan Chase, UnitedHealth, Wealth Services Locations: Dayton , Ohio, REITs, North Bethesda , Maryland, Lighthouse Point , Florida

☆ The No. 1 crucial soft skill that good CEOs share, says Jamie Dimon: Without it, 'you'll eventually fail'
▼ + stars: | 2024-07-16 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

One key trait separates the best CEOs from all others, according to JPMorgan Chase CEO Jamie Dimon. "I think leaders have to get out [from behind their desks]," Dimon said. They're learning from competitors, they're learning from clients." If we're torturing you, we're probably torturing another 10,000 [or] 100,000 people,'" Dimon said. "I think CEOs, any business leader, who can't get out [or is] too busy, they're making a huge mistake."

Persons: Jamie Dimon, LinkedIn's, Dimon, we're Organizations: JPMorgan Chase

☆ Morgan Stanley to report second-quarter earnings
▼ + stars: | 2024-07-16 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

In this articleTed Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023. Morgan Stanley is set to report second-quarter earnings before the opening bell Tuesday. The bank's massive wealth management business will be helped by high stock market values, which inflates the management fees the bank collects. On top of that, investment banking activity has picked up after a dismal 2023, which should provide a tailwind to the bank. Last week, JPMorgan Chase, Wells Fargo and Citigroup each topped expectations for revenue and profit, a streak continued by Goldman Sachs on Monday, helped by a rebound in Wall Street activity.

Persons: Ted Pick, Morgan Stanley, StreetAccount Morgan Stanley, Wells, Goldman Sachs Organizations: Bloomberg Television, LSEG Revenue, Wealth, Investment, JPMorgan Chase, Citigroup Locations: New York, Wells Fargo

☆ Bank of America tops estimates on better-than-expected investment banking
▼ + stars: | 2024-07-16 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

CEOs from left, Charles Scharf, Wells Fargo, Brian Moynihan, Bank of America, and Jamie Dimon, JPMorgan Chase, testify during the Senate Banking, Housing, and Urban Affairs Committee hearing titled "Annual Oversight of Wall Street Firms," in Hart Building on Wednesday, December 6, 2023. Bank of America on Tuesday said second-quarter revenue and profit topped expectations on rising investment banking and asset management fees. Net interest income slipped 3% to $13.86 billion, essentially matching the StreetAccount estimate. Executives have told investors in April that net interest income would bottom in the second quarter. Wells Fargo shares fell on Friday when it posted disappointing NII figures, showing how much investors are fixated on the metric.

Persons: Charles Scharf, Wells, Brian Moynihan, Jamie Dimon, JPMorgan Chase, Wells Fargo, Goldman Sachs Organizations: Bank of America, JPMorgan, Banking, Housing, Urban Affairs Committee, Wall Street Firms, Revenue, JPMorgan Chase, Citigroup Locations: Wells Fargo, Hart

☆ CNBC Daily Open: Trump assassination attempt
▼ + stars: | 2024-07-15 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Trump assassination attemptThe attempted assassination of former President Donald Trump at a rally in Pennsylvania on Saturday left one attendee and the gunman dead, and two more attendees in critical condition. Trump was grazed by a bullet and treated at a local hospital, but released late Saturday night. Dimon inflation warningJPMorgan Chase CEO Jamie Dimon has warned that inflation and interest rates may remain high despite recent easing in price pressures.

Persons: Trump, Donald Trump, Thomas Matthew Crooks, Larry Hu, CNBC's Evelyn Cheng, Russell, CNBC's Michael Santoli, Wiz, Jamie Dimon, Dimon Organizations: CNBC, FBI, NBC, Macquarie, Communist Party of, Dow, Dow Jones, Depot, Caterpillar, Big Tech, Nasdaq, Wiz, Wall Street Journal, Sequoia Capital, Insight Partners, U.S Locations: Pennsylvania, Bethel Park, Pa, China's, Beijing, China, Communist Party of China, Israeli

Several stocks due to report earnings this week could see large moves in the wake of those numbers. This week will see a larger group of corporate earnings, including streaming giant Netflix and chipmaker Taiwan Semiconductor . NFLX YTD mountain Netflix stock. Analysts polled by LSEG expect Netflix to report earnings per share growth of about 40%. The firm is set to report results for the fiscal third-quarter ended June 30 this coming Thursday.

Persons: Horton, D.R Organizations: Citigroup, JPMorgan Chase, Delta Air Lines, PepsiCo, Netflix, chipmaker Taiwan Semiconductor, CNBC, LSEG, Taiwan Semiconductor, Bank of America, United Airlines

☆ Dimon and other Wall Street CEOs react to Trump assassination attempt: 'Deeply saddened' by violence
▼ + stars: | 2024-07-15 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

The leaders of Wall Street's most powerful firms are speaking out to condemn the attempted assassination of former President Donald Trump at a Pennsylvania rally over the weekend. JPMorgan Chase CEO Jamie Dimon told employees Sunday that he and his management team were "deeply saddened by the political violence" and attempt on Trump's life. The shooting killed one bystander and injured two more. "We are grateful that he is safe and also want to extend my sincere condolences to the families of those who were tragically killed and severely injured," Solomon said. Wall Street firms don't officially endorse political candidates since they have to deal with both Republican and Democrat officials, though their executives and employees often donate to campaigns.

Persons: Wall, Donald Trump, JPMorgan Chase, Jamie Dimon, Dimon, Goldman Sachs, David Solomon, Solomon Organizations: JPMorgan, Wall, Republican, Democrat

☆ Goldman Sachs is set to report second-quarter earnings — here’s what Wall Street expects
▼ + stars: | 2024-07-15 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Goldman Sachs is scheduled to report second-quarter earnings before the opening bell Monday. Here's what Wall Street expects:Earnings: $8.34 per share, according to LSEGRevenue: $12.46 billion, according to LSEGTrading Revenue: Fixed Income of $2.96 billion, Equities of $3.17 billion, per StreetAccountInvesting Banking Revenue: $1.80 billion, according to StreetAccountExpectations have been set high for Goldman Sachs, with Wall Street businesses in the midst of a rebound after a dismal 2023. That's because out of the six biggest U.S. banks, Goldman is the most reliant on investment banking and trading to generate revenue. On Friday, rivals JPMorgan Chase and Citigroup both topped expectations thanks to surging investment banking fees and better-than-expected equities trading results. Bank of America and Morgan Stanley report results on Tuesday.

Persons: Goldman Sachs, Goldman, David Solomon, Morgan Stanley Organizations: LSEG Revenue, Trading, Wall, JPMorgan Chase, Citigroup, Bank of America

☆ Why Goldman Sachs thinks the merger machine is revving up
▼ + stars: | 2024-07-15 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

"We are seeing a material increase in client demand for committed acquisition financing, which we expect to continue on the back of increasing M&A activity," he said. "We're seeing it in our dialogue with sponsors," Solomon said. On the strategic side, Goldman advised on the roughly $60 billion sale of the oil and gas company Pioneer to Exxon. Solomon said Goldman also expects to benefit from the uptick in demand through its lending capabilities. "When there are more M&A transactions, whether it was financial sponsors or big corporates, there is more financing attached to that," he said.

Persons: —, Goldman Sachs, David Solomon, Goldman, Solomon, Jamie Dimon, JPMorgan Chase, didn't, Dimon, Donald Trump, I'm, Permira Organizations: Service, Business, Investment, JPMorgan, Federal, Exxon Locations: Silicon Valley

☆ Top Wall Street analysts are pounding the table on these 3 dividend stocks
▼ + stars: | 2024-07-14 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Investors can track Wall Street analysts' ratings to select stocks of dividend-paying companies that have attractive growth prospects, which could boost earnings and cash flows to support higher dividends. Here are three attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. Northern Oil and GasThis week's first dividend stock is Northern Oil and Gas (NOG). NOG paid a dividend of 40 cents per share for the first quarter, reflecting an 18% year-over-year increase. JPM highlighted that this potential increase in the Q3 dividend would mark the second dividend hike this year.

Persons: Wall, NOG, Scott Hanold, Hanold, TipRanks, JPMorgan Chase, JPMorgan Chase JPMorgan Chase, Gerard Cassidy, Cassidy, WMT, Corey Tarlowe, Tarlowe Organizations: Walmart, Northern Oil, Resources, SM Energy, RBC Capital, JV, JPMorgan, JPMorgan Chase JPMorgan, JPM, Consumer, Community, Investment Banking, Wealth Management, Commercial Banking, Jefferies, Fox Robotics, Club Locations: Hurricane , Utah, Williston, Uinta, TipRanks, U.S

☆ Buying into Charlie Scharf's 5-year turnaround plan for Wells Fargo just got a bit cheaper
▼ + stars: | 2024-07-14 | by ( Morgan Chittum | ) www.cnbc.com time to read: +11 min

In Friday's earnings commentary , the Club upgraded Wells Fargo back to our buy-equivalent 1 rating — viewing Friday's drop as an opportunity to add shares. Taken together, it shows just how far the CEO has gone to rehabilitate Wells Fargo. That same year, Wells Fargo admitted to improperly charging home lending customers for mortgage-rate-lock extensions as well. WFC YTD mountain Wells Fargo (WFC) year-to-date performance The Federal Reserve ordered Wells Fargo to freeze its balance sheet in 2018, keeping its assets below $1.95 trillion until senior management cleaned up its act. Wells Fargo parted with most of its senior management from its pre-2019 era and remade its board of directors.

Persons: Charlie Scharf, Wells, Scharf, That's, Jeff Marks, Wells Fargo, Ebrahim Poonawala, Charlie, " Scharf, we're, JPMorgan Chase, Morgan Stanley, There's, Wells Fargo's, Poonawala, he's, Doug Braunstein, Raymond James, David Long, Marks, He's, Jim Cramer's, Jim Cramer, Jim, Patrick T, Fallon Organizations: Wells Fargo, Club, Investors, KBW Nasdaq, Wells, CNBC, Federal Reserve, Currency, Bank of America, Consumer Financial Protection, JPMorgan, Wall, JPMorgan Chase, Fed, Milken Institute Global Conference, Afp, Getty Locations: Wells, Wells Fargo, U.S, delinquencies, Beverly Hills , California

☆ Citigroup tops expectations for profit and revenue on strong Wall Street results
▼ + stars: | 2024-07-12 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Citigroup on Friday posted second-quarter results that topped expectations for profit and revenue on a rebound in Wall Street activity. Here's what the company reported:Earnings: $1.52 a share vs. $1.39 a share LSEG estimateRevenue: $20.14 billion vs. $20.07 billion estimateThe bank said net income jumped 10% from a year earlier to $3.22 billion, or $1.52 a share. Revenue rose 4% to $20.14 billion. JPMorgan Chase reported results earlier Friday, while Goldman Sachs, Bank of America and Morgan Stanley report next week. Correction: This article has been updated to correct that Citigroup reported revenue of $20.14 billion for the second quarter.

Persons: Jane Fraser, Fraser, JPMorgan Chase, Goldman Sachs, Morgan Stanley Organizations: Citi, Milken Institute Global Conference, Citigroup, Investment, U.S, JPMorgan, Bank of America Locations: Beverly Hills , California

☆ JPMorgan's Jamie Dimon warns inflation and interest rates may stay higher
▼ + stars: | 2024-07-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

JPMorgan Chase CEO Jamie Dimon on Friday issued another warning about inflation despite recent signs of easing in price pressures. "Therefore, inflation and interest rates may stay higher than the market expects." His comments came after this week's data showed the monthly inflation rate dipped in June for the first time in more than four years, which fueled bets that the Federal Reserve could cut rates soon. Dimon joined many economists in sounding the alarm on the U.S.' burgeoning debt and deficits. The federal government has so far spent $855 billion more than it has collected in the 2024 fiscal year.

Persons: Jamie Dimon, Dimon, Jerome Powell Organizations: JPMorgan, Federal, U.S Locations: U.S

Stubborn inflation is taking a toll on the nation’s largest banks. On Friday, JPMorgan Chase and Wells Fargo released earnings that were stuttered with indications that despite recent signs of cooling inflation, the economy continues to be a drag. The bank reported profit of $4.9 billion, down slightly from a year earlier, on revenue of $20.7 billion, up 1 percent from last year. On one hand, the nation’s largest bank pulled in $13.1 billion in profit, but it concurrently disclosed more than half a billion dollars in losses from having to offload sinking mortgage investments, among others. Overall results were bolstered by its investment banking and trading business, and a one time windfall from the sale of shares in Visa.

Persons: Wells, Wells Fargo’s, —, ”, Charles W, Scharf Organizations: JPMorgan Chase, Visa

☆ Hightower's Stephanie Link breaks down JPMorgan Chase and Wells Fargo earnings
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHightower's Stephanie Link breaks down JPMorgan Chase and Wells Fargo earningsStephanie Link, Hightower chief investment strategist, joins 'Squawk Box' to break down the quarterly earnings results from JPMorgan Chase and Wells Fargo.

Persons: Stephanie Link, Wells, Hightower Organizations: JPMorgan Chase Locations: Wells Fargo

☆ Investment banking is finally gaining steam. Here's why JPMorgan's Jeremy Barnum says it might not last.
▼ + stars: | 2024-07-12 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Barnum also said the bank's debt capital markets jump was due more to refinancing than fundraising for deals and raised concerns about the future of IPOs. 'Down round' fears haunt the IPO marketOn public issuances, which are handled by the bank's equity capital markets business, Barnum said he would have expected stronger numbers in more normal times. "The regulatory overhang is there, remains there," on the advisory side of the business, Barnum said. Barnum suggested that the flow of capital into credit could be slowing because there isn't enough dealmaking to justify continued fundraising.

Persons: —, JPMorgan Chase, Wells, Jeremy Barnum, Barnum, it's, Jamie Dimon, Dimon, Tom Williams, Biden, It's, You've Organizations: Service, JPMorgan, Business, Federal Reserve, Inc, Getty, Dow Jones Industrial Locations: Wall, Wells Fargo, Israel, Gaza, East, Russia, Ukraine, Central Europe

☆ JPMorgan Chase tops second-quarter revenue expectations on strong investment banking
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan Chase tops second-quarter revenue expectations on strong investment bankingCNBC's Joe Kernen reports on the bank's quarterly earnings results.

Persons: JPMorgan Chase, Joe Kernen Organizations: JPMorgan

A branch of First Republic Bank is seen after Jamie Dimon's JPMorgan Chase & Co emerged as the winner of a weekend auction of the bank in San Franciso, California, U.S. May 1, 2023. First Republic failed on May 1, 2023, after a series of Federal Reserve interest rate increases caused large losses in its investment portfolio and led many depositors to move their money elsewhere. In their complaint filed last December, the former First Republic employees alleged that the FDIC had on May 18, 2023, wrongfully stopped making payments under their deferred compensation plan. First Republic failed less than two months after the failures of two other lenders, Silicon Valley Bank and Signature Bank. The case is Harrington et al v FDIC, U.S. District Court, Northern District of California, No.

Persons: Jamie Dimon's, Hyun Joo Jin, District Judge Haywood Gilliam, Gilliam, Harrington, Jonathan Stempel, Will Dunham Organizations: First Republic Bank, Jamie Dimon's JPMorgan Chase, REUTERS, Federal Deposit Insurance Corp, Bank, U.S, District, Federal, First, JPMorgan, Republic, Silicon Valley Bank, Signature Bank, FDIC, Court, Northern District of, Thomson Locations: San Franciso , California, U.S, California, San Francisco, Oakland , California, Northern District, Northern District of California, New York

☆ Stocks making the biggest premarket moves: Wells Fargo, JPMorgan, Tesla, Carvana and more
▼ + stars: | 2024-07-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading: Wells Fargo — Shares tumbled 6% after the bank reported $11.92 billion in net interest income for the second quarter, a 9% year-over-year decline . Analysts polled by FactSet were expecting $12.12 billion in net interest income. Wells Fargo also reiterated its full-year forecast of a 7% to 9% decrease in net interest income. JPMorgan Chase — The bank slipped 1.6% despite reporting a revenue beat for the second quarter. Carvana — Shares of the used car seller added 1.3% after BTIG initiated coverage of the stock at a buy rating.

Persons: Wells, FactSet, Wells Fargo, JPMorgan Chase, Tesla, Carvana, Fastenal, —, Sarah Min, Jesse Pound, Pia Singh Organizations: JPMorgan, Revenue, LSEG, UBS, Bloomberg

☆ A normalized yield curve eventually is very good for banks, says Gabelli Funds' Macrae Sykes
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA normalized yield curve eventually is very good for banks, says Gabelli Funds' Macrae SykesMacrae Sykes, Gabelli Funds portfolio manager, joins 'Squawk Box' to break down the quarterly earnings results from JPMorgan Chase and Wells Fargo, the Fed's rate path outlook, and more.

Persons: Macrae Sykes Macrae Sykes, Wells Organizations: JPMorgan Chase Locations: Wells Fargo

☆ JPMorgan Chase is set to report second-quarter earnings – here's what the Street expects
▼ + stars: | 2024-07-12 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during an Economic Club of New York (ECNY) event in New York, US, on Tuesday, April 23, 2024. JPMorgan Chase is scheduled to report second-quarter earnings before the opening bell Friday. Here's what Wall Street expects:Earnings: $4.19 a share, according to LSEGRevenue: $49.9 billion, according to LSEGNet interest income: $22.8 billion, according to StreetAccountTrading Revenue: Fixed income of $4.82 billion; Equities of $2.77 billion, according to StreetAccountWill cracks in the economy begin to reveal themselves in JPMorgan Chase results? While JPMorgan has passed numerous stress tests lately — actual and hypothetical — it's possible the bank's consumers could begin showing more strain from higher interest rates. Wells Fargo and Citigroup are scheduled to post results later Friday, while Goldman Sachs , Bank of America and Morgan Stanley report next week.

Persons: Jamie Dimon, JPMorgan Chase, Wells, Goldman Sachs, Morgan Stanley Organizations: JPMorgan Chase &, Economic, of New, JPMorgan, LSEG Revenue, Trading, JPMorgan Chase, Citigroup, Bank of America Locations: of New York, New York, Wells Fargo

☆ Pressure is building on Wall Street’s most powerful woman to pull Citi out of the gutter
▼ + stars: | 2024-07-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Since September, when Fraser laid out her vision for a more streamlined Citigroup, the bank’s stock has shot up more than 50%. For the first time in nearly two decades, Wall Street appears to be feeling something almost like optimism about America’s third-largest bank. But speaking of Fraser’s tenure, Mayo sounded unusually sanguine about her progress in simplifying Citi’s notoriously labyrinthine corporate structure. Still, Mayo said the bank offers the “worst-in-class efficiency, returns and stock market valuation.”“I think she will pull it off. Of course, Fraser, who took over in March 2021, is still being haunted by the sins of Citi’s past.

Persons: CNN Business ’, Jane Fraser, —, Fraser, Revlon —, Jane Fraser’s, ”, Mike Mayo, “, ” Mayo, Mayo, “ It’s, I’m Organizations: CNN Business, New York CNN, Citigroup, Citi, Revlon, JPMorgan Chase, Bank of America, Wells Locations: New York, Wells Fargo

☆ JPMorgan reports before the bell Friday. What Wall Street is watching
▼ + stars: | 2024-07-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Along with the top- and bottom-line numbers, Wall Street is also keeping close watch on net interest income and guidance. "We see the greatest sources of potential earnings upside being driven by higher loan growth and capital markets." Barclays analyst Goldberg anticipates a slight decrease in net interest income in the second quarter due to a compression in net interest margin. Last year, the company posted $21.9 billion in net interest income for the period. Despite expectations for seasonally lower trading, he also expects strong investment banking activity and net interest income to drive ongoing positive momentum.

Persons: Jason Goldberg, Jamie Dimon, Goldman Sachs, Richard Ramsden, America's Ebrahim Poonawala, Goldberg, Wells, Mike Mayo, Redburn, John Heagerty Organizations: JPMorgan Chase, LSEG, Barclays, JPMorgan, Bank, America's Locations: United States

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