U.S. Markets closed

J.P. Morgan Chase's stock turns lower; bank discloses cautious outlook on net interest, non-interest income

Tomi Kilgore

Shares of J.P. Morgan Chase & Co. fell 0.3% in morning trade, erasing earlier gains of as much as 2.5%, as investors weighed better-than-expected third quarter earnings and revenue with a somewhat cautious outlook. The company disclosed in a filing that it expects 2018 net interest income to be about $55.5 million and non-interest revenue growth of 7% to 8%, "market dependent." The FactSet consensus for 2018 net interest income is $55.6 billion, while the consensus for non-interest income of $55.7 billion implies about 12.4% growth. The stock is on track for the lowest close since July 13. It was still up 0.9% over the past three months, while the SPDR Financial Select Sector ETF has slipped 2.4% and the Dow Jones Industrial Average has gained 1.4%.