U.S. stock index futures edged higher on Wednesday ahead of quarterly results from JPMorgan which will kick off the corporate earnings season, with investors awaiting inflation data for clues on the future path of monetary policy. Mega-caps growth names including Facebook Inc., Amazon.com Inc., Google-parent Alphabet Microsoft Corp., and Tesla rose more than 0.5 percent…
Futures Rise Ahead of JPMorgan Results, Inflation Data
October 13, 2021
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JPMorgan’s Dimon Cautions a US Default Would Be ‘Potentially Catastrophic’
WASHINGTON—JPMorgan Chase & Co. has begun preparing for the possibility of the United States hitting its debt limit, Chief Executive Jamie Dimon told Reuters on Tuesday, adding he nevertheless expected policymakers to find a solution to avoid that “potentially catastrophic” event. The country’s largest lender has begun scenario-planning for how a potential U.S. credit default…
JPMorgan Goes ‘Underweight’ on EM Currencies as China Risks Rise
LONDON—Investment bank JPMorgan turned ‘underweight’ on emerging market (EM) currencies on Friday, warning a slowdown of China’s economic growth, troubles in its property sector, and less supportive global monetary policy were all growing risks. “EM growth concerns from COVID-19 drags are receding, but risks that China’s growth slowdown, along with property sector drag, will impact…
JPMorgan Predicts Weak Jobs Recovery as Fed Officials Mull Policy Moves Around Stimulus
A JPMorgan model for forecasting job creation in the U.S. economy predicts another weak number for September, on the back of a reduction in consumer spending in sectors like travel and leisure. The predictive model, created by the bank’s quantitative research team, projects September’s nonfarm payrolls number to come in at 333,000. While that would be…
JPMorgan Takes on British Rivals With Launch of Digital Bank Chase
LONDON—JPMorgan is challenging British rivals on their home turf with the launch on Tuesday of its long-awaited digital retail bank, Chase, as part of what the U.S. lender hopes will be a global expansion. The launch marks the first foray into retail banking outside North America by one of the United States’ most dominant lenders,…
JPMorgan Chase to Buy Zagat Owner, The Infatuation
JPMorgan Chase & Co. has reached a deal to buy The Infatuation, the parent company of restaurant review brand Zagat, according to a joint statement from the bank and media company on Thursday. Financial terms of the deal were not disclosed. Founded in 2009, The Infatuation is a food and dining website that reviews restaurants…
JPMorgan to Buy Majority Stake in Volkswagen’s Payments Business
September 8, 2021
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LONDON—JPMorgan has struck a deal to buy a majority stake in German car giant Volkswagen’s payments business ahead of a planned rollout of in-car technology that allows drivers to automatically pay for fuel or tolls. The U.S. bank has agreed to buy close to 75 percent of Volkswagen Payments S.A. for an undisclosed sum, subject…
Wall Street Investment Banks to Comply With Trump Order to Delist Products in Hong Kong
January 11, 2021
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Three major U.S. investment banks will delist a total of about 500 Hong Kong-listed structured products, according to corporate filings from Hong Kong stock exchanges on Sunday. Goldman Sachs, JPMorgan, and Morgan Stanely stated that the delisting was in compliance with President Donald Trump’s executive order (E.O.) 13959. Trump issued the order (pdf) on Nov….
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