Confidence In Consumer Confidence Surveys Plummets [zero hedge]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: zero hedge
One of the reasons for today's latest, and quite remarkable turnaround higher in stocks, is that Friday's University of Michigan consumer sentiment report showed that, following a small dip in April, in May US consumers responded with a surprising surge in confidence, led by a spike in expectations, i.e., "hope", which helped the overall survey print at the highest level in 15 years, or since January 2004.Which, on the surface, is perplexing as a repeating argument for why various economic metrics have been sputtering lately is the renewed trade war with China. Meanwhile, in what appears to be a far more accurate survey of consumer sentiment, also on Friday Bank of America released its latest consumer confidence indicator, which found that "consumer sentiment has begun to turn down amid the latest news on trade."Specifically, according to the report by BofA economist Joseph Song, consumers reacted negatively to the escalation in the trade war, and the confidence indicator started to s
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- 4/12/24 - Beat
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- 4/25/24 - Form 424B2
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form 424B2
- JPM's page on the SEC website