Major Banks Beat Earnings Forecasts, but Recession Fears Increase

Major Banks Beat Earnings Forecasts, but Recession Fears Increase
JPMorgan Chase CEO Jamie Dimon testifies before the House Financial Services Committee on Capitol Hill in Washington, on April 10, 2019. Mandel Ngan/AFP via Getty Images
Bryan Jung
Updated:
0:00
Major American banks beat their earnings forecasts, but recession fears are beginning to mount.

JPMorgan Chase, Bank of America, Citigroup, and asset management giant BlackRock reported positive forecasts on Jan. 13, but many investors were still left disappointed.

The banks managed to beat Wall Street’s reduced expectations for their fourth-quarter results, as higher interest rates boosted income from loans.

Performance was topsy-turvy in the morning, as bank shares went up and down, as investors absorbed the latest bank earnings, with many remaining concerned by the lenders’ downbeat tone in their earnings reports.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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