JPMorgan published Q3 results ahead of the Wall Street session start today. US bank generated revenue of $29.94 billion against expected $28.39 billion. EPS came in at $2.92, much better than expected $2.35. Company also reported much smaller than expected provisions for bad loans - $611 million (exp. $2.38 billion). Results look solid on the face of it but release still triggered downward move on the US futures. Why? JPMorgan decided to extend buyback suspension until the end of the fourth quarter of the year.
JPMorgan finished yesterday's trading slightly below resistance zone at $105.00, that is also marked with a 200-session moving average (purple line). Decision to extend buyback suspension may weigh on share price during today's trading. Source: xStation5
Market Wrap: ASML lifts tech sentiment, EU yields pull back
ASML disappoints on revenue but delivers stronger profits and raises guidance 🍳 What’s next for the AI sector?
Daily Summary: Earnings Season Kicks Off on Wall Street Amid Mixed Sentiment
SpaceX Wants to Fly Starship Almost Every Day. Musk’s Business Empire Is Betting on It