Spreadex Market Update
Dollar eases losses while JP Morgan beats Q1 EPS forecasts
"Much of [JP Morgan's Q1] growth stemmed from its investment banking division, which benefited from the record-breaking trading that followed Trump’s election victory last November.
The Dow’s (admittedly slight) gains are in part thanks to JP Morgan, which rose 1.7% to hit an 8 day peak following its first quarter figures. The US bank posted a 6.5% surge in revenue to $24.7 billion, while earnings per share rocketed 22% higher to $1.65; much of this growth stemmed from its investment banking division, which benefited from the record-breaking trading that followed Trump’s election victory last November.
With cable retreating from its earlier highs the FTSE shrank its own losses, which halved to around 25 points as the day progressed. The DAX saw a similar performance, slipping 0.3%, while the CAC, which is facing the first round of the French election in just over a week, couldn’t halt its decline in quite the same way, falling half a percent.
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