JP Morgan Chase & Co. ($JPM) Stock Forecast: Down 5.7% Today

What is JP Morgan Chase & Co.?

JPMorgan Chase (JPM) is a leading financial institution and the nation's largest bank, known for its diverse range of financial services and global presence.

Why is JP Morgan Chase & Co. going down?

JPM stock is down 5.7% on Apr 12, 2024 17:16

• Despite reporting a Q1 earnings beat and revenue growth, JPMorgan Chase (JPM) experienced a bearish movement, possibly due to a slightly below-estimate net interest income (NII) and raised expense guidance for the year.
• CEO Jamie Dimon's warning about an uncertain year ahead amidst a rising profit for JPMorgan could have added to investor concerns, especially in comparison to the declining earnings of competitors like Wells Fargo and Citigroup.
• The overall market sentiment, influenced by higher-than-expected inflation data and worries about the Federal Reserve delaying interest rate cuts, likely contributed to the bearish movement in JPM's stock price today.

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JPM Technical Analysis

JPM News

JPMorgan Chase (JPM) Shares Dip Despite Q1 Earnings Beat and Revenue Growth

JPMorgan Chase (JPM) Shares Dip Despite Q1 Earnings Beat and Revenue Growth

https://www.gurufocus.com/news/2409198/jpmorgan-chase-jpm-shares-dip-despite-q1-earnings-beat-and-revenue-growth

Jamie Dimon again warns about ‘uncertain’ year ahead as JPMorgan profit rises

JPMorgan, the nation’s largest bank, earned a profit of $13.42 billion. Wells Fargo and Citigroup earnings declined.

https://nypost.com/2024/04/12/business/jamie-dimon-warns-of-uncertain-year-ahead-as-jpmorgan-profit-rises/

Retail Resilience: Wayfair, Lowe''s, Best Buy — JPMorgan''s Top Stock Picks

As the retail landscape evolves amidst changing consumer behaviors and economic shifts, investors seek guidance on navigating this dynamic sector . The JPMorgan Retail Round-Up Conference 2024 shed light on key themes shaping the retail landscape this year, including: Stable U.S. consumer backdrop Resurgence in denim and activewear categories Renewed focus on consumer value. Amidst these trends, Christopher Horvers , head of U.S. Broadlines and Hardlines Retail at JPMorgan, presented compelling stock picks poised for growth in the retail sector. 1. Wayfair: Offers Upside From Sales, Margins Horvers expressed optimism about Wayfair Inc (NYSE: W ), the leading online specialty retailer. He attributed its potential for growth to the improving demand for home goods. With sales expected to rise alongside the resurgence in home-related purchases, Wayfair stood to benefit from its dominance in the online home furnishings category. Horvers noted the company’s focus on cost optimization post-Covid-19 pandemic. “We see upside not only from sales but also from margins,” said Hoervers. 2.

https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38223600/retail-resilience-wayfair-lowes-best-buy-jpmorgans-top-stock-picks

Why Are Stocks Down Today?

Stocks are down today and investors wondering why are in luck because we know what’s dragging shares down on Friday! First off, traders will note that stocks are still down today following the latest inflation data released this week. The Consumer Price Index (CPI) report for March dropped on Wednesday. The bad news was that inflation came in hotter than experts were predicting. This has investors worried that the Federal Reserve might not move forward with plans to cut interest rates as soon as they hoped. Also weighing stocks down today are the latest earnings reports from major banks. JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) all released earnings reports today and each of them saw net interest income decrease sequentially. That also has traders worried about the state of the economy. Let’s check out how all of this news is affecting the major stock indices below!

https://investorplace.com/2024/04/why-are-stocks-down-today-april-12th/

JPMorgan shares fall after shortfall in Q1 net interest income

JPMorgan Chase & Co. announced first-quarter net interest income (NII) slightly below analyst estimates and raised its expense guidance for the year, leading to a decline in shares. The post JPMorgan shares fall after shortfall in Q1 net interest income appeared first on Nairametrics .

https://nairametrics.com/2024/04/12/jpmorgan-shares-fall-after-shortfall-in-q1-net-interest-income/

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JP Morgan Chase & Co. Price History

12.03.2024 - JPM Stock was down 5.0%

• JPMorgan shares fell after reporting a shortfall in Q1 net interest income, slightly below analyst estimates, leading to a decline in shares.
• Despite beating EPS and revenue expectations for Q1, JPM's stock fell about 5% immediately after the earnings release, breaking a rising trendline.
• The dip buyers stepped in with aggressive buying, but the trendline was temporarily broken post-earnings.
• The discrepancy between reported numbers and whisper numbers, along with raised expense guidance for the year, likely contributed to the bearish market movement of JPM stock today.

14.10.2023 - JPM Stock was up 1.5%

• JPM had a strong bullish movement today.
• The news articles do not directly mention JPM, but there are some relevant mentions of the banking industry and financial services.
• The positive sentiment in the market could be attributed to the overall strength in the financial sector, as indicated by the funding round for blockchain payment firm Fnality and the partnership between Bank Alfalah Limited and J.P. Morgan in Pakistan.
• Additionally, the better-than-expected earnings report from Deere & Company could have contributed to the positive sentiment in the market, as it reflects a healthy economy and potential business opportunities for banks like JPM.
• Overall, the bullish movement in JPM's stock today could be driven by the positive news in the financial sector and the broader market sentiment.

13.09.2023 - JPM Stock was up 4.6%

• JPMorgan reported strong Q3 earnings, with net revenue beating expectations and showing a significant year-on-year increase.
• The company benefited from robust performance in its Consumer & Community Banking division and a decrease in credit losses.
• The CEO's warning about "the most dangerous times" could be seen as a general observation about the global economic challenges, rather than a specific factor impacting JPM's bullish movement.
• JPMorgan's record net interest income, driven by higher interest rates and the acquisition of First Republic Bank, also contributed to the positive market sentiment.

13.09.2023 - JPM Stock was up 4.9%

• JPMorgan reported strong Q3 earnings, with net revenue beating expectations and showing a significant year-over-year increase.
• The positive earnings report, along with the overall bullish market sentiment, contributed to the strong bullish movement in JPM's stock.
• The cautious outlook on consumer health and the warning from JPMorgan's CEO about the challenging economic environment may have also influenced the market movement, but the impact seems to be overshadowed by the positive earnings results.
• The Fed rate hikes mentioned in one of the articles may have provided an additional boost to JPMorgan's earnings, as higher interest rates can benefit banks' profitability.

12.03.2024 - JPM Stock was down 5.2%

• The company reported a 6% increase in profits for the first quarter, attributed to higher interest rates. Despite this positive development, JPMorgan Chase's stock faced a decline as its projected income from interest payments did not meet analysts' projections.
• The CEO's cautious comments, which highlighted worries related to global conflicts, inflation, and quantitative tightening, likely influenced the market's pessimistic view of the stock.
• Concerns raised by the CEO about the potential for persistent inflation may have amplified investor apprehensions, contributing to the stock's bearish performance.
• The reaction of the market to JPMorgan's financial results and future outlook, in conjunction with broader economic uncertainties, potentially influenced the downward trend in the stock's value.

12.03.2024 - JPM Stock was down 5.0%

• JPM stock faced downward pressure recently.
• The stock declined following cautionary statements by CEO Jamie Dimon regarding inflation, despite the company posting strong first-quarter earnings.
• Concerns arose among investors due to Dimon's comments about inflation potentially affecting the bank's profitability and future prospects.
• Weak earnings performance and geopolitical uncertainties, such as tensions in the Middle East, also contributed to the negative investor sentiment surrounding JPM stock.

12.03.2024 - JPM Stock was down 5.7%

• Despite reporting a Q1 earnings beat and revenue growth, JPMorgan Chase (JPM) experienced a bearish movement, possibly due to a slightly below-estimate net interest income (NII) and raised expense guidance for the year.
• CEO Jamie Dimon's warning about an uncertain year ahead amidst a rising profit for JPMorgan could have added to investor concerns, especially in comparison to the declining earnings of competitors like Wells Fargo and Citigroup.
• The overall market sentiment, influenced by higher-than-expected inflation data and worries about the Federal Reserve delaying interest rate cuts, likely contributed to the bearish movement in JPM's stock price today.

04.02.2024 - JPM Stock was up 1.5%

• JPMorgan's stock showed strong bullish movement today.
• Speculation around Reddit's upcoming IPO with a $6.5 billion valuation may have positively influenced investor sentiment, potentially benefiting JPMorgan as a key underwriter for the IPO.
• Favorable outlook on JPMorgan's top stock picks for March could have contributed to the bullish trend.
• The recruitment of James Cornell from JPMorgan by RBC Capital Markets might have indicated sector confidence, potentially supporting an increase in JPMorgan's stock value.

12.03.2024 - JPM Stock was down 5.2%

• JPMorgan's stock fell as CEO Jamie Dimon's warning on inflation overshadowed the positive earnings report.
• Dimon's cautionary remarks about rising inflation likely raised concerns among investors about the impact on the bank's future profitability.
• Despite the strong financial performance, the market reacted negatively to the inflation concerns, leading to the bearish movement in JPM's stock price.
• Investors may have shifted their focus from the earnings beat to the potential challenges posed by inflation, contributing to the downward pressure on JPMorgan's stock.