Why Shares of JPMorgan Chase Are Rising This Week
For the week, shares of JPMorgan Chase (NYSE: JPM) traded roughly 10% higher as of 12:52 p.m. ET Thursday after the bank raised its outlook for the year at its investor day held earlier this week.
The bank now expects to generate roughly $56 billion of net interest income (NII) in 2022, which is the profit banks make on loans, securities, and cash after covering the cost to fund those assets. NII is one of the main sources of revenue for a bank. Previously, JPMorgan Chase had only expected $53 billion of NII for the year.
Source Fool.com
