JPM - This Bank Stock Beat the S&P 500 in the First Half of 2024. Is It Still a Buy?
2024-07-10 05:00:00 ET
In theory, this isn't a great time to own bank stocks. Although high interest rates make lending money a more profitable business, the persistent inflation these high rates are meant to curb is bad for the economy, and it crimps demand for most basic banking services.
In reality, however, most banks (and their stocks) are doing well. Shares of JPMorgan Chase (NYSE: JPM) logged a gain of more than 21% during the first half of this year, for instance, versus the S&P 500 's gain of less than 17%.
What gives? And is more of the same market-beating bullishness in the cards for this particular bank?
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This Bank Stock Beat the S&P 500 in the First Half of 2024. Is It Still a Buy?