<p>Second-quarter earnings at JPMorgan Chase (JPM) were better than expected Tuesday, as a boost in dealmaking demonstrated how Wall Street recovered from the spring freeze that accompanied President Trump's "Liberation Day" tariffs.</p>
<p>Investment banking revenue at JPMorgan rose 8% from last year's second quarter to $2.5 billion due largely to advising on mergers and equity underwriting. Bond underwriting fell 2% but still exceeded analyst expectations.</p>
<p>JPMorgan CEO Jamie Dimon said investment banking activity "started slow but gained momentum as market sentiment improved" and "the U.S. economy remained resilient in the quarter."</p>
<p>He also offered some notes of caution, however.</p>
<p>"Significant risks persist," he added, "including from tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits and elevated asset prices."</p>
<p>JPMorgan raked in a total of $15 billion of net income over the second quarter, a 17% drop compared to the same period last year. But that drop was largely due to the fact that the comparison was skewed by a one-time gain on its Visa shares recognized in the second quarter of last year.</p>
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Source: AOL Money
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