JPMorgan Chase & Co.’s first-quarter profit tumbled 69% and the bank set aside a whopping $6.8 billion to cover potential losses on loans to consumers and businesses struggling to stay afloat during the coronavirus shutdown.
The nation’s biggest bank on Tuesday was the first to report earnings since the coronavirus pandemic slammed the brakes on the U.S. economy in March, when government orders to stay home led businesses and factories to close and put millions out of work.
This stock should be flying after that great earnings! I see +10% today!
Only up 1% premarket?
That they have a $6 billion + rainy day jar as millions of Americans are going without medical healthcare, queue miles for food banks, face eviction & 16 million have lost their jobs last mth is beyond sick.
Awwww.... I feel sooooo SAD for JPMorganChase.... Poor babies, profit is down 1st Qtr of 2020. USTreasury Maybe they should get MORE Tax$ bailout money. CNN GOP DNC FoxNews
What will they do for the suffering 99%?
Not to worry, the boss of JP Morgan is on the board of the company distributing the US bailout money. I am sure he will get his bank plenty.