U.S. banks kicked off the third-quarter earnings season with a wave of upside surprises, as JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs Group Inc. (NYSE:GS), Wells Fargo & Co. (NYSE:WFC), and Citigroup Inc. (NYSE:C) all topped Wall Street expectations, signaling continued strength across lending, trading, and consumer banking.CompanyEPSEPS SurpriseRevenue (B)Revenue SurpriseJPMorgan Chase & Co. $5.07+4.84%$47.12+3.82%Citigroup Inc.$2.24+17.89%$22.09+4.76%Wells Fargo & Co. $1.66+7.44%$21.44+1.37%Goldman S ...

每经AI快讯，10月14日，美股银行股走势分化，富国银行、贝莱德涨超3%，高盛跌超4%，摩根大通跌 超3%，摩根士丹利、德意志银行跌超1%。 ...

JPMorgan Chase & Co. (NYSE: JPM) reported a quarterly profit rise, underlining how the largest US lender continues to position itself as a central player in the country's economic and technological tr... ...

Core Insights - Jamie Dimon, CEO of JPMorgan Chase, indicated that recent bankruptcies in the U.S. auto market reflect overly lax lending standards over the past decade [1][2] - The bankruptcies of First Brands and Tricolor Holdings have raised concerns about hidden risks in financing private companies by major banks [2] - JPMorgan reported significant performance in institutional trading, but analysts are increasingly focused on potential credit losses [2] Group 1: Bank Performance and Credit Issues - JPMorgan Chase has avoided losses from First Brands but incurred $170 million in charge-offs related to Tricolor Holdings [3] - Charge-offs occur when a bank acknowledges it will not recover loans made [3] - Dimon acknowledged the Tricolor situation as not the bank's finest moment, emphasizing the need for thorough scrutiny in lending practices [4] Group 2: Market Conditions and Future Outlook - Dimon noted that the credit bull market has persisted since around 2010 or 2012, lasting approximately 14 years [2] - He warned that if an economic downturn occurs, there could be a significant increase in credit issues [2] - The current bankruptcies are seen as early signs of potential excess in the market [2]

Group 1: US-China Trade Tensions - The growing trade tensions between China and the US are impacting market performance, with fears of a potential trade war increasing [2][3] - China has retaliated against the US by sanctioning a South Korean shipping company and imposing export controls on rare earths and critical minerals, affecting global supply chains [3][4] - US Treasury Secretary Scott Bessant has accused China of attempting to harm the global economy through these actions [4] Group 2: Earnings Reports - JP Morgan reported a profit of $14.39 billion, or $5.7 per share, in Q3, driven by increased investment banking fees, which rose 16% [52][53] - Wells Fargo's net income for Q3 was $5.59 billion, or $1.66 per share, benefiting from higher interest income due to Fed rate cuts [54][55] - BlackRock's adjusted earnings per share increased by 1% to $11.55, with revenue rising 25% to $6.5 billion, and total assets under management reaching a record $13.5 trillion [56] Group 3: Market Reactions and Trends - Stocks linked to rare earth minerals have surged, with MP Materials and Critical Metals seeing significant increases in share prices due to US efforts to reduce reliance on China [40] - Navitas Semiconductor's shares rose over 25% following positive updates on its collaboration with Nvidia for AI infrastructure [42] - General Motors' shares fell nearly 2% after announcing a $1.6 billion hit from slowing electric vehicle sales [39]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

So sorry. You know, I saw a story this morning on the Bloomberg saying which banks were expected to beat estimates, which to me, that doesn't make any sense. Why don't analysts then raise estimates.Well, they can only go about how the management is guiding them. And management is always smart to guide them to a place where they are sure, when they report the numbers that they can try and beat those estimates. And that's what they've done this quarter.If you look at all the big numbers, especially in capital ...

So sorry. You know, I saw a story this morning on the Bloomberg saying which banks were expected to beat estimates, which to me, that doesn't make any sense. Why don't analysts then raise estimates.Well, they can only go about how the management is guiding them. And management is always smart to guide them to a place where they are sure, when they report the numbers that they can try and beat those estimates. And that's what they've done this quarter.If you look at all the big numbers, especially in capital ...

以下文章来源于投资界 ，作者吴琼 庭审中，Javice落泪承认错误："这是我一生都将后悔的决定 。 " 现实远比想象更为荒诞。这场本该通过尽调避免的闹剧，再次为创投圈敲响警钟。 投资界 . 清科创业旗下创业与投资资讯平台 文 ｜ 吴琼 来源｜ 投资界 （ID： pedaily2012 ） 封面来源 ｜ 视觉中国 震惊创投圈的造假案迎来了结局。 查理·贾维斯（Charlie Javice），这位90后创始人即将沦为阶下囚。在此之前，她是常青藤名校生、硅谷白富美，创办了明星公司Frank。2021年，她把公 司以1.75亿美元（约12亿人民币）卖给摩根大通，走上人生巅峰。 保持敬畏。 摩根大通被骗12亿 90后女生入狱 然而万万没想到，Javice宣称Frank拥有超420万用户，后来被发现实际不足30万人。这场造假导致摩根大通投资损失，双方对簿公堂。本周一纸判决出炉 —— 她因诈骗摩根大通被判七年监禁 ，后续将提起上诉。 2016年，Javice创建一个大学助学金平台——Frank。在美国，许多大学生都会申请经济援助，但面对繁琐的信息填写流程，稍有差错就可能导致审批失 败。而Frank希望通过AI简化贷款申请流 ...

Financial Data and Key Metrics Changes - The company reported a net income of $14.4 billion and an EPS of $5.07, with a ROTC of 20% [2] - Revenue reached $47.1 billion, up 9% year on year, driven by higher markets revenue and increased fees across asset management, investment banking, and payments [2] - Expenses totaled $24.3 billion, an 8% increase year on year, attributed to higher volume and revenue-related expenses [3] - The CET1 ratio decreased to 14.8%, down 30 basis points from the previous quarter [3] Business Line Data and Key Metrics Changes - Consumer & Community Banking (CCB) reported net income of $5 billion, with revenue of $19.5 billion, up 9% year on year, primarily due to higher NII from increased revolving balances [4] - Corporate & Investment Bank (CIB) net income was $6.9 billion, with revenue of $19.9 billion, a 17% increase year on year, driven by higher revenues in markets, payments, investment banking, and security services [5] - Asset & Wealth Management (AWM) reported net income of $1.7 billion, with record revenue of $6.1 billion, up 12% year on year, driven by growth in management fees and higher brokerage activity [6] Market Data and Key Metrics Changes - Long-term net inflows for AWM were $72 billion for the quarter, with assets under management reaching $4.6 trillion, up 18% year on year [6] - Client assets increased to $6.8 trillion, up 20% year on year, driven by continued net inflows and higher market levels [6] Company Strategy and Development Direction - The company aims to maintain its leading position in retail deposit share and is focused on new account acquisitions, particularly in the Sapphire portfolio [4] - The outlook for the fourth quarter includes expectations for NII ex markets to be approximately $23.5 billion and total NII to be about $25 billion [7] - The company plans to provide a formal outlook for 2026 during the fourth quarter earnings call, indicating a preliminary view of about $95 billion for NII ex markets [8] Management's Comments on Operating Environment and Future Outlook - Management noted that while the consumer remains resilient, there are risks associated with a potentially softening labor market [4][36] - The company is cautious about the credit cycle, acknowledging that while current consumer credit performance is stable, there are risks of deterioration if the labor market weakens [36] - Management emphasized the importance of expense discipline and the potential for AI-driven productivity gains, while also recognizing the challenges of labor cost inflation [39][78] Other Important Information - The company is focused on utilizing excess capital effectively, with plans to support growth in critical industries while considering dividend hikes [30] - Management highlighted the importance of maintaining a conservative approach to lending, particularly in the non-bank financial institution (NBFI) sector, while acknowledging the risks involved [50][51] Q&A Session Summary Question: Retail deposit growth expectations - Management updated expectations for retail deposit growth, indicating a potential 3% growth in Q4 and 6% for 2026, but noted that current balances per account are lower than previously expected due to various macroeconomic factors [11][13][15] Question: Credit fundamentals and demand in lending - Management discussed the demand for lending, noting healthy deal flow and acquisition finance activity, while also addressing concerns about credit fundamentals in public versus private markets [20][22][24] Question: Reserve build and commercial book - Management explained that the reserve build is influenced by card loan growth and acknowledged that the mix of the portfolio is different from previous cycles, leading to higher reserve intensity [25][28] Question: NBFI lending risks - Management clarified that most NBFI lending is highly secured and that they do not perceive elevated risks in this area compared to other lending sectors [45][50] Question: Mortgage lending and government actions - Management discussed the supply and demand factors affecting mortgage rates and suggested that reducing regulatory burdens could help lower mortgage costs [60][62] Question: Regulatory environment and Basel III - Management noted a bias for action from the current administration regarding regulatory changes and expressed optimism about the direction of Basel III proposals [66][68]