Strong Q4 Earnings Results Boost Shares of J.P. Morgan Higher
Shares of J.P. Morgan Chase & Co. rose nearly 2% after the largest U.S. bank by assets announced that its fourth-quarter profit rose more than expected thanks to strong results from its trading operations.
The bank reported a profit of $6.73 billion, or $1.71 a share for the three-month period ending December 31, 2016. That surpasses a profit of $5.43 billion, or $1.32 a share, in the same period of 2015 and exceeds analysts’ expectations calling for earnings of $1.44 a share.
For the year, J.P. Morgan earned $24.7 billion, marking a fresh all-time record by moving pass 2015’s earnings record of $24.44 billion.
Buy Stop at 87.70, Take profit at 88.50, Stop loss at 87.30