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JPMorgan Chase's third-quarter adjusted revenue was 50910000000 USD, below the market expectation of 51370000000 USD；FICC sales and trading revenue also fell short of expectations, while U.S. stocks were down nearly 3%。
BlockBeats reported that JPMorgan’s trading desk turned bullish on U.S. stocks again ahead of the U.S. nonfarm payrolls report, with a strong preference for the technology and banking sectors, and no longer recommends using short positions in the Russell 2000 index to hedge long positions in technology stocks.
Market data on September 22 showed broad declines among U.S. major bank stocks, with Wells Fargo and JPMorgan Chase seeing their losses widen to 4.2% and 4.1%, respectively.