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JP Morgan kicks off bank earnings, but all eyes on guidance

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Pedestrians pass in front of a JPMorgan Chase & Co. bank branch in New York.

Eric Thayer | Bloomberg | Getty Images

Big U.S. banks J.P. Morgan Chase, Bank of America and Citigroup will benefit from a rebound in trading revenue in the fourth quarter, but that might matter less than what executives say about this year’s guidance.

Last month, executives at the three banks all cited increased trading results in the final three months of 2019. J.P. Morgan CFO Jennifer Piepszak said trading would be “meaningfully” higher versus a year ago, while Citigroup CFO Make Mason said it would rise by a percentage “in the high teens.” Bank of America CEO Brian Moynihan said markets revenue would be 7% to…



Source cnbc.com

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