JPMorgan Chase Posts Strong Results, Justifying Recent Rally in Financial Stocks

JPMorgan Chase's (JPM) - Get Report  fourth-quarter results justified the rally in the financials sector since the election. That's the assessment from Michael Ingram, a market analyst with BGC Partners, based in London. The bank reported fourth-quarter results that topped Wall Street's estimates on both the top and bottom lines. Trading revenue rose 24%, while fixed income revenue surged 31%, thanks to market volatility following Donald Trump's election victory in November. Ingram said the only disappointment was a lack of movement in net interest margins during the quarter.