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.

 

 

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Ed Moya

Ed Moya

Senior Market Analyst, The Americas at OANDA
With more than 20 years’ trading experience, Ed Moya is a senior market analyst with OANDA, producing up-to-the-minute intermarket analysis, coverage of geopolitical events, central bank policies and market reaction to corporate news. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies. Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street 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 CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business and Sky TV. His views are trusted by the world’s most renowned global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Breitbart, The New York Times and The Wall Street Journal. Ed holds a BA in Economics from Rutgers University.
Ed Moya