JPMorgan Chase earnings beat expectations, shares rise

Financial Performance - JP Morgan's GAP earnings were $524 per share, down from last year's $612, which included a significant accounting gain [1] - The $524 earnings per share included a $700 million tax benefit, equivalent to $028 per share [1] - Investment banking fees increased by 7% for the quarter [3] - Asset and wealth management fees were up by 10% [4] Business Development - JP Morgan added 500,000 net new checking accounts in the commercial bank [4] - JP Morgan launched the refreshed Sapphire Reserve and Sapphire Reserve for business [4] Market Analysis and Economic Outlook - Investment bank activity initially slowed but gained momentum as market sentiment improved [3] - Jamie Dimon stated that the US economy remained resilient during the quarter [4] - Tax reform and potential deregulation are viewed as positive factors for the economic outlook [4] - Significant risks persist, including tariffs and trade uncertainty, worsening geopolitical concerns, high fiscal deficits, and elevated asset prices [5] - JP Morgan is preparing for a wide range of scenarios, acknowledging both positive and negative factors [5]