Dow shrugs off JP Morgan miss

JP Morgan fourth quarter results disappointed as profit came in at $1.98, missing analysts’ expectations of $2.20, the first miss in 15 quarters.  Just like Citigroup, FICC sales and trading revenue were down sharply, a sign that the rest of the financials may see similar results.  JP Morgan’s outlook was also not too bright.  They see first quarter Net Interest Income flat quarter over quarter and expense to be up mid-single digits year over year.

JP Morgan stock was down over 2.6% in premarket trade but has recovered half of its losses at the open.  The Dow is also off the session lows and currently trades higher by 0.3%.  The dollar is mixed in early trade, slightly higher against both the euro and cable, but lower against the commodity currencies.

 

 

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Ed Moya

Ed Moya

Senior Market Analyst at OANDA
With more than 20 years’ trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geo-political events and monetary policies in the US, Europe, the Middle East and North Africa. Over the course of his career, he has worked with some of the world’s leading forex brokerages and research departments including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including BNN, CNBC, Fox Business, and Bloomberg. He is often quoted in leading print and online publications such as the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University. Follow Ed on Twitter @edjmoya ‏
Ed Moya