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JPMorgan Still Leads the Big Banks on Earnings

Andrew Bary

The bank’s shares initially traded lower Tuesday morning, but were up 42 cents at $114.32 in mid morning. The early losses came as investors reacted to news that (JPM) reduced its forecast for 2019 net interest income to about $57.5 billion, below the guidance of $58 billion it issued when it disclosed its first-quarter earnings. The scaled-back forecast reflects the impact of anticipated rate cuts by the Federal Reserve.