- JPMorgan shares advance on impressive third-quarter performance.
- Earnings per Share (from a US GAAP accounting perspective) are 10% above the Wall Street consensus.
- Income benefits from investment banking and wealth management fees.
- Traders are focused on establishing a new all-time high.
JPMorgan Stock (JPM) They rose more than 5% on Friday after the country’s largest bank posted earnings that far exceeded consensus.
The September Producer Price Index (PPI) was published before the market opened, and it was not the signal the market wanted. The annual inflation figures for both the general and core PPI came in above consensus. In the case of the annual core PPI, inflation rose above the August figure, although the latter was revised upwards.
He Dow Jones Industrial Average (DJIA)of which JPMorgan is a core member, led other major U.S. indexes in early trading on Friday. The DJIA is up 0.8% at the time of writing, while the NASDAQ is up 0.3%.
JPMorgan Stock News
JPMorgan, led by CEO Jamie Dimon, earned $4.37 in GAAP earnings per share, which was more than 10% above the Wall Street consensus. The figure was helped by higher investment banking and wealth management fees, but was affected by higher credit provisions due to increased charge-offs in its credit card business. Additionally, $6 billion in share buybacks (about 1% of shares outstanding) during the quarter drove the figure higher.
Revenue in the third quarter rose 7% from a year ago to $42.65 billion, beating consensus by nearly $1.3 billion.
Total deposits and loans rose modestly from a year earlier, but investment banking fees rose 31% year-over-year, while asset management fees gained 15% in that period. Auto loans increased 11% year over year in the third quarter. Fixed income income remained stable compared to the previous year, while equity market income increased 27%.
Looking ahead, CFO Jeremy Barnum said the $23.5 billion in net interest income in the third quarter will likely fall to $22.9 billion in the fourth quarter due to the yield curve.
Based on the declining yield curve, which is shifting because the Federal Reserve is cutting interest rates, Barnum predicted the bank would see a pullback in net interest income until it stabilizes in mid-2025.
Asked about Wall Street’s 2025 consensus of $87 billion in net interest income, Barnum said it was “in the ballpark” but toward the high end of possible.
JPMorgan Stock Forecast
JPMorgan shares are close to hitting a new all-time high. The existing one was reached on August 30 at $225.48, and JPM stock was less than a dollar away from reaching it earlier in the session.
Fibonacci extensions give traders a clue as to where they can aim. Right now, JPM stock is trading near the 161.8% Fibonacci at $224.31. The 261.8% Fibonacci is at $236.65, and the 361.8% is at $248.99.
The 100-day Simple Moving Average (SMA) has served as decent support on many occasions over the past two years. On Friday, it sits a little above $207.
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.