U.S. Day Ahead: JPMorgan still in the shadow of the whale
Thursday, April 11, 2013 - 02:36
Apr 11 - JPMorgan, the biggest U.S. bank, is expected to deliver a mixed bag of results, laced with bad memories of its London Whale trading debacle.
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With market hitting new highs the focus will be on financials with the earnings from the biggest bank JPMorgan. Are set to rise by 9% from a year ago on higher heat and -- -- But -- be flat compared to the last quarter and remain resent falling net interest margin. Money and make some lending. On top of that the Wall Street -- -- boss Jamie diamond can't change is six point two billion dollar -- -- -- Jamie Dimon came out the shareholders letter this week and in the he's -- as Womack who was since you've been mistake it was kicked in the teeth. I've been saying that we've we've been attacked by the government by the -- is full -- missing things regulations on money laundering on. Mortgage foreclosures. He says that we're gonna get more of these in the government's not a ticking charging message -- shells hit. In the meantime JPMorgan shares up 12% since the beginning the air. All -- hear from Wells Fargo and wanna know if it -- -- once more when it reports results and the last three years the big earnings have grown consistently from quarter to quarter. -- -- Polled by -- profits will be smaller compared to Q4 to blame a slowdown in its massive mortgage business which makes up about 14% of its revenue. They made 125 billion dollars worth of loans in the fourth quarter which was down from 139. In the third quarter. It's racy ran -- this work. Mortgage Bankers Association has predicted that lending will gradually declined throughout the year as -- people are refinancing homes race. People are expected Steve Moore. Taking out loans for buying homes and certainly keeping up there. Refinancings. Wells Fargo stock up 10% since the start of the year. Don't miss our latest analysis on which to financials could beat the street when they come out with error. Your economic not to focus on is retail sales and especially after those dismal chain store numbers aren't different that I have our sales could -- I -- a percent in March after the previous -- -- And tax hikes are hurting spending but it is silver lining everything else coming in better than expected retailers could start rehiring to make up for march as big loss of 24000. Jobs. Those are big drag on shaky early reports. Over it all of us on Twitter writer is insider getting warmer video that Reuters dot com slash writers TV. And find out why Glenn Hudgens the co-founder of tech PE I'm bill currently being different is the worst economic recovery and history -- I'm ready mom this is greater and.
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