JPMorgan's record profit eases fear of slowing economy [MSN Money]
Stifel Financial Corporation (SF)
Last stifel financial corporation earnings: 7/30 06:00 am
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Source: MSN Money
JPMorgan's record profit eases fear of slowing economy JPMorgan Chase posted a better-than-expected quarterly profit Friday, easing fears that slowing economic growth could weigh on its rults. Load Error The largt U.S. bank by assets showed strgth across its busins in the first quarter, driv by what chief executive Jamie Dimon dcribed as solid growth in the U.S. economy, moderate inflation and strong consumer and busins confidce. U.S. bank stocks have underperformed the broader market in rect months on fears of an impding recsion, with economists and invtors citing concerns over a flatting yield curve and slowing housing market. But bank executiv have downplayed concerns, pointing to continuing loan growth. Loans in JPMorgan's consumer banking division rose perct from a year ago. Overall revue rose .7 perct to $9.8 billion. "We've be gerally quite optimistic about the outlook for the economy," Chief Financial Officer Marianne Lake told reporters on a call to discuss the rults. "It do
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