JPMorgan – solid second quarter earnings signal improved health for US financials. This is bullish for upcoming bank earnings results in general. Analysts had generally lowered expectations for bank earnings this quarter due to low global growth. Our outlook on JPM and the major index is for mostly sideways consolidation with solid support at the lower range of the band.
JPMorgan Q2 earnings beat on both top and bottom line at $1.55 a share and on revenue of $25.2 billion.