JPMorgan touts ‘soft landing’ possibility after better-than-feared earnings

JPMorgan Chase and Wells Fargo saw stock gains on Friday after better-than-expected third-quarter results, signaling resilience in the banking sector.

Despite profit declines of 2% and 11% from last year, both banks benefited from strong investment banking activity, with fees up over 30%.

JPMorgan’s CFO Jeremy Barnum linked the performance to a potential “soft landing” for the U.S. economy, as inflation slows without triggering a recession.

JPMorgan raised its full-year profit outlook, while both banks noted rising credit challenges, Yahoo Finance has reported.

read more: https://finance.yahoo.com/news/jpmorgan-touts-soft-landing-possibility-after-better-than-feared-earnings-112411192.html

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