|Bid||136.70 x 1400|
|Ask||136.96 x 800|
|Day's Range||136.22 - 138.83|
|52 Week Range||91.11 - 138.83|
|Beta (5Y Monthly)||1.22|
|PE Ratio (TTM)||13.51|
|Earnings Date||Jan 14, 2020|
|Forward Dividend & Yield||3.60 (2.61%)|
|1y Target Est||124.38|
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.
(JPM) Chase reportedly is putting all of its wealth management businesses–save for its private bank for the super-rich–together in one unit. The bank has tapped its marketing chief, Kristin Lemkau, to lead the new unit, which appears aimed at better coordinating the largest U.S. bank’s various wealth offerings. Merrill Edge, which was already offering free trades to loyalty program members, is now expanding them to all users of its self-directed online brokerage.
JPMorgan Chase & Co. (NYSE: JPM) ("JPMorgan Chase" or the "Firm") declared dividends on the outstanding shares of the Firm’s Series I, R, S, & FF preferred stock. Information can be found on the Firm’s Investor Relations website at jpmorganchase.com/press-releases.
J.P. Morgan Asset Management’s chief global strategist on how to invest in a low-yield, low-growth environment, on what the Fed gets wrong, and why the U.S.-China trade war has been much more costly than it appears.
(Bloomberg) -- SoftBank Group Corp. has no plans to slow down its multibillion-dollar foray into Latin America.After investing between 6 billion reais ($1.5 billion) and 10 billion reais in 19 firms in the region in 2019, the Tokyo-based firm is planning on potentially making fewer but larger deals in the new year, SoftBank Group International managing partner Andre Maciel told reporters in Sao Paulo.“We haven’t made the largest transactions we have in mind yet,” Maciel said. He declined to give the exact amount invested so far since some of the transactions have yet to become public.Some of SoftBank’s investments include the Colombia-based delivery startup Rappi and Mexican payments fintech Clip. In Brazil, it has invested in logistics platform Loggi, fitness startup Gympass and digital bank Banco Inter SA, among others. The Japanese technology giant launched a fund dedicated to venture capital investments in Latin America earlier this year.The firm’s expansion in Latin America has been overseen by SoftBank Group International’s chief executive officer, Marcelo Claure, who was also recently appointed WeWork’s new executive chairman. Maciel, a 17-year veteran of JPMorgan Chase & Co., is one of Claure’s three lieutenants in the region, and the only one based in Sao Paulo.To contact the reporter on this story: Vinícius Andrade in São Paulo at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Daniel CancelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
DOW UPDATE The Dow Jones Industrial Average is falling Friday morning with shares of Verizon Communications Inc. and Dow Inc. seeing the biggest losses for the price-weighted average. The Dow (DJIA) was most recently trading 50 points, or 0.
Could a trade deal result in the Fed raising rates again? If so, the big banks will once again be some of the major beneficiaries.
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.
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?
Stocks rallied Thursday due to a familiar catalyst: positive trade talks. However, this time could be different because the U.S. and China have agreed, in principle, to Phase I of a trade deal. That accord now awaits President Donald Trump's signature.Source: Courtesy of Finviz * The S&P 500 surged 0.86% * The Dow Jones Industrial Average soared 0.79% * The Nasdaq Composite advanced 0.73% * In a case of a pleasant surprise, Cisco Systems (NASDAQ:CSCO) was one of best-performing names in the Dow today, adding an impressive 3.08%.In the first paragraph, the operative phrases are "in principle" and "awaits President Donald Trump's signature" because investors have been down this road before. Phase I of the trade deal should have been signed last month, but for a variety of reasons, that obviously didn't happen.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"U.S. negotiators have reached the terms of a phase-one trade deal with China that now awaits President Donald Trump's approval, according to people briefed on the plans," reports Bloomberg. * The 10 Worst Dividend Stocks of the Decade Investors can and do have varying views on President Trump, and it is their right to do so, but regardless of one's opinion of his presidency, it's hard to argue against his shrewdness. Meaning, he's aware that we're almost in an election year and clouds created by a stormy relationship with China do more harm than good for his reelection prospects.Trump said in a tweet earlier today that both sides want the trade deal to happen. That's certainly encouraging and very likely why 25 of the Dow's 30 components were higher in late trading, one of the better ratios over the past several weeks. Bad News FirstGetting the bad news out of the way first, Boeing (NYSE:BA) was the worst offender on the Dow Jones today and the only one with a loss in the neighborhood of 1%. The company said today it has reached a $125 million with Southwest Airlines (NYSE:LUV) regarding the grounding of the 737 MAX passenger jet, but as is often the case with news on that front, there's more to the story.The more likely culprit behind Boeing's Thursday woes was Federal Aviation Administration chief Steve Dickson saying the company is giving unrealistic timelines about when the 737 MAX will be flying again.Remember, it's the FAA's call, not Boeing's, about when the plane becomes flight-ready again. Apple SurpriseIt was surprising to see Apple (NASDAQ:AAPL) scuffle on a day when positive trade news dominated the headlines, but the stock is higher by more than 3% this month and there was plenty of good news to go around today.Should President Trump quickly sign the trade deal, that means the tariffs set to go into effect on Sunday will be averted and that's positive for Apple.Those levies would have increased the price of already pricey iPhones, iPads and MacBooks by 15% at arguably the worst time of the year to raise prices on any consumer product. Cisco SurgeAs noted earlier, previously moribund Cisco was the Dow leader today on news the company is getting into the semiconductor and has already procured data-center operators, such as Microsoft (NASDAQ:MSFT) and Facebook (NASDAQ:FB), as clients.Edward Jones upgraded Cisco to "buy" from "hold," adding to the stock's Thursday upside. Jumpin' JPMorganJPMorgan Chase (NYSE:JPM) was competing with Cisco for top honors on the Dow Jones today as the largest domestic bank was flirting with gains of 3%.Tuesday after the bell, JPMorgan announced that it's making significant alterations to its wealth management businesses."JPMorgan will put its U.S. wealth management business for affluent clients, its network of financial advisors at Chase branches, and its new You Invest online brokerage all together in one unit. JPMorgan will keep its private bank for the ultra-wealthy separate," reports Barron's. Looking AheadThis is an ideal time of year to start considering sector bets for the new year and healthcare appears to merit evaluation. Today, each of the Dow's healthcare names, a group including Johnson & Johnson (NYSE:JNJ) and Pfizer (NYSE:PFE), traded higher and it appears that some market observers are bullish on blue-chip pharmaceuticals names for 2020."For Major Pharma, we remain constructive on the group and see the potential for a recovery year in 2020 after the sector underperformed the broader market in 2019," said J.P. Morgan in a note out today. Bottom Line on the Dow Jones TodaySpeaking of looking ahead, the current forecast for 2020 S&P 500 earnings per share (EPS) is pretty sturdy and implies some upside to come for stocks in the new year."For 2020, the bottom-up EPS estimate (which reflects an aggregation of the median EPS estimates for all of the companies in the index) is $178.57. If $178.57 is the final number for the year, it will mark a record-high EPS number for the index," notes FactSet research.As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Worst Dividend Stocks of the Decade * 7 Game-Changing Tech Stocks to Buy Now * 5 Chinese Stocks to Buy for the Big 2020 Rebound The post Dow Jones Today: A Trade Truce Is Reached, Hopefully, Maybe appeared first on InvestorPlace.
(Bloomberg) -- JPMorgan Chase & Co.’s asset management arm is extending a push into the $787 billion private credit market as cash pours into the asset class from yield-hungry investors.JPMorgan Asset Management announced Thursday it has appointed Meg McClellan to a newly created role as head of private credit. She will oversee the firm’s $10 billion in private credit assets, looking after the global special situations, infrastructure debt and commercial mortgage loan businesses, according to a statement. The firm has yet to disclose McClennan’s replacement as CFO.As it grows its private debt business, JPMorgan Asset Management is considering acquisitions “that fit into our overall continuum of products,” and additional hires, said Anton Pil, head of the firm’s alternative assets group. “We’ve been fairly active in hires in that space over the last two years, especially in the distressed and special situations side,” he said in a phone interview. The reason behind the effort is the firm’s view that private debt is emerging as a permanent asset class.How Private Credit Soared to Fuel Private Equity Boom: QuickTake“In the context of where we are in the economic cycle, we are focused on highly collateralized private debt” to mitigate risk, Pil said. This includes investments in real estate, real assets, or collateralized with ships or aircraft. The firm also sees attractive opportunity in special situations and distress.Pil said the firm is avoiding traditional direct lending, because the illiquidity premium is insufficient compared to public credit markets currently.JPMorgan Asset Management has already taken strides to expand its footprint in private debt. In October, the firm announced the closing of a $1.06 billion special situations fund for investing in stressed, distressed and event-driven situations in North America and Europe. The parent is also raising money for a mezzanine fund as part of a strategy to boost its alternatives business.Bank MovesMcClellan’s appointment is the latest in a string of bank moves to capitalize on the booming private credit market, despite some concerns about a slowdown. Last month, Jim Amine stepped down as chief executive of Credit Suisse Group AG’s investment banking and capital markets division to take the role as head of private credit opportunities. DNB Asset Management recently hired a private debt team in Europe. They join other big names already in private credit including Goldman Sachs’ merchant banking division, BNP Paribas Asset Management and Deutsche Bank AG’s DWS Group. The latter has a European direct lending unit which recently signed its first wave of third party fund investors with 350 million euros ($389 million) in commitments.\--With assistance from Michelle F. Davis.To contact the reporters on this story: Kelsey Butler in New York at firstname.lastname@example.org;Rachel McGovern in Dublin at email@example.comTo contact the editors responsible for this story: Natalie Harrison at firstname.lastname@example.org, Rizal Tupaz, Shannon D. HarringtonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.