JPM - Why JP Morgan Chase Stock Is Down Today
2024-07-12 14:02:33 ET
JPMorgan Chase (NYSE: JPM) reported decent quarterly results but hinted that investors who are waiting for the operating environment to improve need to continue to be patient.
Investors largely shrugged at the news, sending JP Morgan shares down as much as 3% on the day and down 1% as of 1:30 p.m. EDT.
JPMorgan is among the largest U.S. banks and there are few companies that investors follow more closely to gauge the overall health of the economy. The bank earned $4.40 per share in the second quarter on revenue of $51 billion, topping Wall Street expectations for $4.28 per share in earnings on sales of $50.2 billion.
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Why JP Morgan Chase Stock Is Down Today