JPMorgan briefly spikes after top executive touts better-than-expected Q4 growth

Investing.com -- JPMorgan briefly spiked Tuesday after a top executive touted a strong outlook for the fourth quarter and year ahead.

JPMorgan Chase&Co (NYSE: JPM) jumped before paring gains to trade flat following the news.

The bank's Q4 net interest income is expected to be better than expected, while investment banking fees could rise 45% from a year earlier, Marianne Lake, CEO of Consumer and Community Banking at JPMorgan Chase said Tuesday, Bloomberg reported. Analysts expected net interest income of $92.43B for the December quarter.

Trading revenue in Q4, meanwhile, could climb mid-teens or more from a year earlier, Lake added.

Looking further ahead to 2025, Lake estimated net interest income could come in $2B higher than current estimate.

The bullish outlook comes even as economic strength is expected to continue next year, albeit at a more moderate pace, underpinned by ongoing rate cuts, slowing inflation and a still resilient consumer.

Global Growth is projected to slow to 2.2% in 2025 from 2.7% in 2024m with U.S. GDP growth forecast to slow 2.0% from a 2.4% annual pace, while China falls to 3.2% from 4.8%.

Global inflation is expected to slow to a pace of 2.7% from 3%, with the rates of disinflation varying globally.

You May Also Be Interested In

• JPMorgan cut off lending activity for Situational Awareness - FT
• Premarket movers: Oracle surges on AI growth, ACV auctions jumps on $1.9B deal
• Morgan Stanley cautious on Coinbase, but target implies over 40% upside