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The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
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JP Morgan Stock In Focus With Bank Earnings Season On Tap

JP Morgan stock (JPM) will kick off bank earnings season in the United States later.

jpm chart

JPM – Weekly Chart

The stock price for JPM is trading at 127.99 with a resistance level in play. The targets are 144.34 on the upside and 101.28 on the downside.

JP Morgan's earnings for the quarter ending March 2023 are expected to show revenue of $36,070 billion for a 14.18% year-on-year improvement. Earnings per Share (EPS) is estimated to rise $3.42, or 23.86%, over the same period.

Bank stock earnings will be more critical than usual due to the recent banking crisis and the capital committed to safeguarding regional banks. Investors will be looking for any adverse changes to bank balance sheets.

JPMorgan will lead the Q1 earnings season, with Citigroup and Wells Fargo releasing their latest results on 14 April. If the results from JP Morgan are positive, it could lift risk sentiment in the general market. Higher interest rates and more robust lending figures are expected to support Q1 results. However, lending will have suffered from the SVB banking crisis.

The bank's CEO, Jamie Dimon, has said that the odds of a recession have risen after last month's problems. Although a recession is not inevitable, he said that the recent banking failures have worsened the outlook.

Experts Remain Speculative on Forecast of Financial Markets

"It's just another weight on the scale," Dimon said. "We are seeing people reduce lending a little bit, cut back a little bit, and pull back ... It won't necessarily force a recession, but it is recessionary." Dimon also said that the banking crisis is not over, with the sector likely to face problems in the years ahead.

Last Updated: 11/04/2023

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.


 

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