J.P. Morgan Chase was set to report first-quarter earnings ahead of the open Friday.
A consensus of analysts polled by Reuters estimated the bank would report:
— Earnings: $2.28 a share
— Revenue: $27.68 billion
Trading results could get a “high single-digit” boost for the quarter, J.P. Morgan’s co-president and co-chief operating officer, Daniel Pinto, said in late February. Market volatility has increased significantly in the last several weeks as traders worried about a trade war and other geopolitical issues.
Analysts expected the bank to report a nearly 3 percent increase to $4.34 billion in revenue from fixed income, currencies and commodities trading revenues, according to StreetAccount.
In February, J.P. Morgan said it will build a new 2.5 million-square-foot headquarters in New York City. The news followed an announcement the prior month that the bank plans to open 400 branches in new U.S. locations and raise hourly wages for some of its employees, as part of a five-year, $20 billion spending plan.
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