|Bid||138.37 x 800|
|Ask||0.00 x 800|
|Day's Range||134.21 - 138.47|
|52 Week Range||91.11 - 138.47|
|Beta (5Y Monthly)||1.22|
|PE Ratio (TTM)||13.63|
|Earnings Date||Jan 14, 2020|
|Forward Dividend & Yield||3.60 (2.68%)|
|1y Target Est||124.38|
A four-word handwritten note by a JPMorgan Chase & Co banker has been seized by Australian prosecutors as fundamental to a criminal cartel prosecution against Citigroup Inc and Deutsche Bank AG , a court heard on Friday. The note, which said "out of market today", was taken by JPMorgan compliance chief Oliver Bainbridge at the time of a conference call with the other two banks, and prosecutors say it shows the three agreed to refrain from selling stock from a 2015 capital raising to boost its price, the court heard. "Mr Bainbridge has made contemporaneous notes with the words 'out of market today'," said Jennifer Giles, a local court magistrate presiding over the case which is yet to go to trial.
Buy equities, add U.S. agriculture and hedge against the 2020 U.S. presidential election — three of JP Morgan’s top trade picks for the year ahead.
Some of the nation's top bankers are seeking to use technology to better serve a broader swath of American investors. Will one decide they want Robinhood in their quiver?
DOW UPDATE Led by strong returns for shares of Cisco and JPMorgan Chase, the Dow Jones Industrial Average is climbing Thursday afternoon. The Dow (DJIA) was most recently trading 227 points, or 0.8%, higher, as shares of Cisco (CSCO) and JPMorgan Chase (JPM) are contributing to the index's intraday rally.
The Times accessed audio recordings of conversations between Kennedy and Charles Belton, an employee at Kennedy’s local JPMorgan branch in Arizona, who also happens to be black. Kennedy, who earned $13 million in his time with the NFL, was denied the private client status despite depositing $800,000 at the bank, The Times reported. JPMorgan typically offers the coveted status to clients who deposit more than $250,000.
DOW UPDATE Shares of Cisco and JPMorgan Chase are seeing strong returns Thursday morning, propelling the Dow Jones Industrial Average into positive territory. Shares of Cisco (CSCO) and JPMorgan Chase (JPM) have contributed to the blue-chip gauge's intraday rally, as the Dow (DJIA) is trading 152 points, or 0.
The Fed kept interest rates unchanged at the Federal Open Market Committee (FOMC) Meeting and forecasts reflect no change of rate throughout 2020.
Saudi Aramco’s shares rose 10 per cent during its second day of trading on Thursday, pushing the state oil group’s valuation above $2tn. Shares climbed by the maximum daily limit to SR38.7 before profit-taking pushed the price down, according to the website of Riyadh’s Tadawul stock exchange. for the company has long been sought by Saudi Arabia’s ambitious Crown Prince Mohammed bin Salman, and Riyadh has worked to backstop the flotation to ensure its success.
(Bloomberg) -- China yuan traders are undaunted by Sunday’s looming start of fresh U.S. tariffs even as investors elsewhere are piling into protection.As President Donald Trump’s Dec. 15 deadline for more duties on Chinese imports draws closer, one-week risk reversals -- a measure of demand for bearish yuan bets relative to bullish calls in the options market -- have been at their lowest since July. And while volatility gauges for the currency have jumped in the past week, they remain well below levels reached in August, when the yuan weakened through 7 per dollar for the first time since 2008 amid trade worries.An unusual sense of tranquility has descended on China’s financial markets the past month, in part on investors awaiting clearer insight on the state of the U.S.-China trade fight amid a near-daily dose of headlines.While the offshore yuan weakened slightly Wednesday after White House trade adviser Peter Navarro said he has “no indication” whether the looming tariffs will be implemented as scheduled, market sentiment was supported by people familiar with the discussions saying that Chinese officials expect the duties to be delayed.Yuan traders anticipate the same, said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group Ltd. in Singapore. “Volatility spikes have been nothing out of the ordinary and the spot market is still calm,” he added. “I guess all the headlines about how both sides are really close to a deal have given them some comfort.”Some Chinese banks have chosen to reduce their long and short dollar positions ahead of the tariff deadline, according to three traders. Most firms have reached their year-end performance targets, so there’s no need to take fresh risk at this time, the traders added, asking not to be named as they’re not authorized to speak with the media.Amid the trade uncertainty in recent days, one-week volatility in both the onshore and offshore yuan is back to October levels. But “volatility is rising from a very low place,” said Stephen Innes, chief Asia market strategist at AxiTrader Ltd. “It’s cheap relative to the risks that lie ahead.”Read: JPMorgan’s Dimon Says He Expects U.S.-China Phase-One Trade DealThe yuan has traded in a roughly 1% range the past month, sticking close to the 7 per dollar level. Citigroup Inc. told its clients last week that while it doubted new tariffs will be enacted Dec. 15, the yuan could weaken to 7.2 to 7.35 per dollar in offshore trading if the levies get priced into the market.The currency was around 7.0320 at 3:45 p.m. in Shanghai, the yuan weakening slightly after a Ministry of Commerce spokesman provided no trade-talk update during a regular afternoon briefing beyond saying teams remain in close touch.Meanwhile, the volatility spread between the onshore and offshore yuan has widened to the most since October. That’s largely on dwindling mainland trading momentum ahead of year-end, said Frank Zhang, deputy general manager for global markets at Bank of Hangzhou Co.(Updates yuan level, adds government spokesman in ninth paragraph)\--With assistance from Ran Li.To contact Bloomberg News staff for this story: Livia Yap in Shanghai at firstname.lastname@example.org;Qizi Sun in Beijing at email@example.comTo contact the editors responsible for this story: Sofia Horta e Costa at firstname.lastname@example.org, Kevin Kingsbury, Fran WangFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A prosecution witness in an Australian criminal cartel case against Citigroup Inc and Deutsche Bank AG testified he had just 30 seconds' notice about an underwriting conference call and that there was no collusion. The testimony from former JPMorgan Chase & Co markets head Jeff Herbert-Smith appears to be at odds with the prosecution's case that the three banks and their client Australia and New Zealand Banking Group agreed to withhold details about a A$2.5 billion ANZ share sale in 2015 to support the stock. The case, in which JPMorgan has been given immunity in exchange for cooperating with the authorities, is being closely watched by investment banks around the world because it could influence how they are allowed to conduct capital raisings.
(Bloomberg) -- “Zombie Libor” and “Libor apocalypse” are probably phrases that send chills down the spines of Wall Street traders. It turns out the terms are also triggering anxiety among swaps regulators.U.S. Commodity Futures Trading Commission Chairman Heath Tarbert said Wednesday that his agency is tracking the threat of the London Interbank Offered Rate not entirely going away when banks are no longer required to provide submissions used to calculate it. That could lead to a situation in which the benchmark still exists, but isn’t a legitimate borrowing rate.“To avoid a potential zombie Libor apocalypse, various proposals are currently being discussed,” Tarbert said in a speech. “We are monitoring these discussions and look forward to responding to any proposals in due course.”Libor is used to set rates on hundreds of trillions of dollars worth of financial products. If every bank stops submitting data at the end of 2021, it will probably die. But many on Wall Street are concerned that the panel of contributors won’t shrink all the way to zero, leaving the index alive but a bad representation of lending rates. That, and the harm it might do to derivatives markets, is what Tarbert is trying to avoid.To contact the reporter on this story: Jesse Westbrook in Washington at email@example.comTo contact the editors responsible for this story: Jesse Westbrook at firstname.lastname@example.org, Gregory Mott, Nick BakerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
JPMorgan Chase still has big plans for North Carolina. At the Goldman Sachs U.S. Financial Services Conference this week in New York, Jen Piepszak, JPMorgan CFO, told analysts that, by the end of the year, “we’ll have 80 or 90 branches open in our expansion markets.” And that includes the Franklin Street branch that opened last August in Chapel Hill. Other branches are planned – including in Durham and in Raleigh, but JPMorgan has been short on the details.
U.S law firm Hausfeld has filed a lawsuit in London against major banks over alleged foreign exchange (forex) rigging in a bid to take over a high-profile British class action from compatriot Scott & Scott. The new action, called FX Claim UK, seeks damages from Barclays, Citibank, RBS, JPMorgan , UBS and MUFG Bank over their role in forex spot trading cartels between 2007 and 2013 and was filed at London's Competition Appeal Tribunal (CAT) on Wednesday.