Home Forex Markets JPM Morgan Chase and MS Morgan Stanley have poor revenue, and the US earnings season has a bad start! SPX S&P 500 plummets

JPM Morgan Chase and MS Morgan Stanley have poor revenue, and the US earnings season has a bad start! SPX S&P 500 plummets

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JPM Morgan Chase and MS Morgan Stanley have poor revenue, and the US earnings season has a bad start! SPX S&P 500 plummets


SPX S&P 500, MS Morgan Stanley, JPMJPMorganAnalysis of:

• U.S. earnings season got off to a bad start;

• JPMorgan and Morgan Stanley miss EPS and revenue estimates

The U.S. earnings season got off to a bad start as major U.S. banks reported earnings.JPMorgan(JPM)and Morgan Stanley(MS)Earnings per share and revenue were both lower than expected, so shares will open lower. Perhaps more ominous news, though, is that JPMorgan has announced that they have temporarily halted their share buyback program.

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JPMorgan(JPM)Second quarter results

•EPSEarnings per share are2.76USD, expected to be2.88Dollar

Revenue is316.3billion, expected to be319.8One hundred million U.S. dollars

•IB(investment bank) revenue is13.5billion, expected to be19.2One hundred million U.S. dollars

Suspension of share repurchases

Morgan Stanley(MS)Second quarter results

correctedEPSEarnings per share are1.44USD, expected to be1.57Dollar

revenue131One hundred million U.S. dollars,vs. 133.3One hundred million U.S. dollars

As a reminder, financial stocks are expected to underperform, while energy stocks are expected to outperform this season.Meanwhile, a weak start to the earnings season further strengthens the S&P500Index quarterly earnings are expected to be2020The lowest view since the fourth quarter of this year.

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JPM Morgan Chase and MS Morgan Stanley have poor revenue, and the US earnings season has a bad start! SPX S&P 500 plummets

JPM Morgan Chase and MS Morgan Stanley have poor revenue, and the US earnings season has a bad start! SPX S&P 500 plummets

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