Jim Cramer: I Can’t Believe JPM is Making So Much Money
Fixed income trading was a standout in J.P. Morgan's earnings and that stellar quarter portends well for Wells Fargo's earnings later this week, says Jim Cramer.
Fixed income trading was a standout in J.P. Morgan's (JPM) - Get Report earnings and that stellar quarter portends well for Wells Fargo's (WFC) - Get Report earnings later this week, says TheStreet's Jim Cramer. JPMorgan Chase is higher today after it beat profit estimates for its second quarter. The bank earned $1.55 a share over the quarter, $0.12 above forecasts. Revenue rose to $25.21 billion, higher than an expected $24.16 billion. The largest U.S. bank reported a 23 percent surge in trading revenue during the second quarter, to $5.6 billion, driven by heavy client demand in government bonds, currencies and emerging markets.
