JPMorgan posts record profits for 2023 despite drop in fourth quarter

JPMorgan Chase posted a record annual profit — nearly $50 billion — despite taking a $3 billion hit in the fourth quarter to replenish a government deposit insurance fund, the Wall Street giant said Friday.The nation’s largest lender hauled in $49.6 billion last year to post an impressive 31% improvement from its bottom line in 2022, blowing past economists’ expectations.Shares of the bank climbed 2.3% before the opening bell.CEO Jamie Dimon reiterated his view that the economy remained resilient but warne ...