JPMorgan Chase has joined the masses in voicing their concerns over an impending recession following the release of the July jobs report. Indeed, the investment banking firm has recently raised the U.S. recession probability to 35% for an economic downturn by the end of this year, up from 25%.What’s behind JPMorgan’s change of tune?Well, JPM believes last month’s jobs data points to a “sharper-than-expected weakening in labor demand and early signs of labor shedding,” according to JPMorgan economists led by ...

Key TakeawaysJPMorgan Chase launched LLM Suite, an AI assistant designed to employ multiple large language models, according to a CNBC report that was confirmed by a spokesperson to Investopedia.More than 60,000 employees have access to the program so far, but the goal is for it to become ubiquitous at the company.JPMorgan reportedly had previously banned ChatGPT within the company over data privacy concerns. JPMorgan Chase & Co. (JPM) is giving its employees access to a generative AI assistant built by the ...

With the month of August kicking off, now is a great time to find the most promising value stocks to buy. These companies typically are market leaders in their industry that may be trading at a discount to their intrinsic value. Investors often look towards traditional valuation metrics such as price to earnings, price to book and free cash flow margin — to name a few. However, it is important to point out that the metrics one uses will often be dependent on a variety of factors. It can include the industry ...

The Consumer Financial Protection Bureau is investigating major US banks for their handling of customer funds on the peer-to-peer payments platform Zelle Network, the Wall Street Journal reported Wednesday.The probe focuses on JPMorgan, Bank of America and Wells Fargo among other large banks, the report said, citing people familiar with the matter.The probe focuses on JPMorgan, Bank of America and Wells Fargo among other large banks, the report said, citing people familiar with the matter. AFP/Getty ImagesJ ...

The Zacks Major Regional Banks will benefit from the Federal Reserve’s interest rate cuts as the deposit costs come down and the industry-wide lending backdrop improves. Further, a decent economic expansion will boost the industry players’ net interest income (NII) and margins.Business restructuring/expansion initiatives and digitization will offer support. Though weakening asset quality is likely to exert pressure on the financials to some extent, major banks like JPMorgan Chase & Co. (JPM) , U.S. Bancorp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended Commission file June 30, 2024 number 1-5805 JPMorgan Chase & Co. (Exact name of registrant as specified in its charter) Delaware 13-2624428 (State or other jurisdiction of incorporation or organization)(I.R.S. employer identification no.) 383 Madison Avenue, New York, New York 10179 (Address of principal execu ...

With a history of almost two centuries, JPMorgan (NYSE: JPM) is widely recognized as one of the most prestigious financial institutions on Wall Street.As a key player among the Big Four banks, with thousands of financial experts and analysts conducting the necessary research, this banking giant has made notable stock acquisitions over the years, utilizing its $611 billion large market cap to secure the best stock deals.Building on this legacy, Finbold analyzed JPMorgan’s latest 13F filing on March 31 to ide ...

JPMorgan Chase & Co. (JPM) launched a new generative artificial intelligence tool that acts as a research analyst and can provide information, solutions and advice, per a report in the Financial Times.The bank’s own internal version of OpenAI’s ChatGPT, named LLM Suite, is now accessible to Asset and Wealth Management (AWM) segment employees. The tool is designed to assist with writing, idea generation, problem-solving using spreadsheets, summarizing documents via accessing third-party models, and more func ...

Consumer spending has remained strong despite elevated inflation, surprising many economists. However, there are concerns about credit card delinquencies and lenders’ net charge-offs, which could indicate whether consumers can keep up with their payments. The Philadelphia Fed reported that credit card delinquencies in Q1 2024 reached their highest level since 2012. According to Seeking Alpha, in June, credit card delinquencies stayed stable at 2.79%, higher than pre-pandemic levels. Net charge-offs declined ...

The Wall Street Journal reported on July 16 that the investment banking revenue of multiple Wall Street banks rose by double-digit percentage levels last quarter. As a result of increased economic stability in the U.S., the firm’s corporate clients utilized more banking services, including deal advisory and debt offerings. Moreover, many firms’ asset-and-wealth management revenue jumped in Q2. I believe that the latter increases were largely spurred by the trading upticks these institutions experienced. Spe ...