JP Morgan Chase Stock Closes at a Record High on Profits

JP Morgan Chase (JPM) shares closed at a record high after beating forecasts. The bank saw trading revenue higher and its profits got a boost in the first quarter. Net income was up 12 percent year on year at $5.9 billion. Shares of Chase have been higher for 6 straight sessions, the longest winning streak since December. JP Morgan Chase is up 4.6% this month and higher by 16% since the end of January. Jeffries Analyst Ken Usdin reiterated his buy rating on the stock and predicts it will hit $68.00 a share. Shares of JP Morgan Chase closed at $63.04, an all time high for the bank in its current form.