JPMorgan Chase & Co., the biggest lender in the United States, said on Friday it set aside $1.4 billion in anticipation of a mild recession, even as it beat forecasts for quarterly profit on the back of a strong performance at its trading unit.
Shares in JPMorgan fell about 3 percent in premarket trading as it kicked off quarterly earnings for corporate America that are expected to fall for the first time since the third quarter of 2020. The stock recovered to trade down 0.2 percent at $139.19 in late morning trading.
