Latest JPMorgan Chase & Co News

FILE - In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York.  Shares of some major banks are tumbling before the market open Monday, Sept . 21, 2020, following a report alleging those including JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon continued to profit from illicit dealings with disreputable people and criminal networks despite being previously fined for similar actions.   (AP Photo/Richard Drew, File)

Bank shares slide on report of rampant money laundering

Sep. 21, 2020 5:29 PM EDT

The financial sector was hit hard Monday following a report alleging that a number of banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon among them — have continued to profit from illicit dealings with disreputable people and criminal networks despite previous...

FILE - In this Jan. 27, 2020, file photo, trader Michael Capolino works on the floor of the New York Stock Exchange. Wall Street is opening sharply lower Monday, Sept. 21, 2020, led by financial stocks, after a report alleged banks were profiting from illicit dealings with disreputable people and criminal networks. (AP Photo/Richard Drew, FIle)

Wall Street falls, S&P 500 down 1.2% as global markets swoon

Sep. 21, 2020 4:59 PM EDT

NEW YORK (AP) — Wall Street slumped Monday as markets tumbled worldwide on worries about the pandemic’s economic pain, though the S&P 500 had pared its losses by the end of the day. The drops began in Asia as soon as trading opened for the week, and they accelerated in Europe on worries about...

Nikola, Illumina fall; Cubic, Rent-A-Center rise

Sep. 21, 2020 4:29 PM EDT

NEW YORK (AP) — JPMorgan Chase & Co., down $3.04 to $95.31. The bank allegedly continued profiting from illicit dealings with criminal networks despite previous fines, according to a report. Allstate Corp., up 75 cents to $92.03. The insurance company announced an accelerated $750 million stock...

FILE - In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. A number of JPMorgan Chase traders have been sent home after employees tested positive for COVID-19, less than a week into the bank’s push to start bringing its workers back into the office. A bank spokesman said Tuesday, Sept. 25, 2020, that JPMorgan Chase has been managing individual positive cases over the last few months. (AP Photo/Richard Drew, File)

Some JPMorgan traders catch COVID as bank reopens offices

Sep. 15, 2020 4:07 PM EDT

NEW YORK (AP) — A number of JPMorgan Chase traders have been sent home after employees tested positive for COVID-19, less than a week into the bank's push to start bringing its workers physically back into the office. JP Morgan has been “managing individual cases (of employees testing positive)...

In this undated photo provided by Citigroup, head of Citi’s global consumer banking division Jane Fraser poses for a portrait. Citigroup announced Thursday, Sept. 10, 2020, that Fraser would succeed Michael Corbat as the bank’s next chief executive, making Fraser the first woman to ever lead a Wall Street bank. (Julian Restrepo/Citigroup via AP)

Jane Fraser to become Citi CEO; 1st woman to lead major bank

Sep. 10, 2020 2:23 PM EDT

NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman to ever lead a Wall Street bank when she succeeds CEO Michael Corbat in February. The New York bank announced the succession Thursday. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that...

JPMorgan: some customers, employees misused COVID programs

Sep. 8, 2020 5:17 PM EDT

NEW YORK (AP) — JPMorgan Chase said Tuesday that a number of its employees and customers may have abused the Paycheck Protection Program and other coronavirus stimulus programs. The New York-based bank said it is working with law enforcement in some cases, although in a memo sent to employees it did not...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 28, 2020. Asian markets were mostly higher Friday after the Federal Reserve said it might keep interest rates low even if inflation rises, in a major overhaul to its strategy. (AP Photo/Ahn Young-joon)

Markets higher as Fed chair says interest rates to stay low

Aug. 27, 2020 11:49 PM EDT

Asian markets were mostly higher Friday after the Federal Reserve said it might keep interest rates low even if inflation rises, in a major overhaul to its strategy. Shares rose in Japan, South Korea, Shanghai and Hong Kong but fell in Sydney. Overnight, the S&P 500 ticked 0.2% higher, further into record...

XBiotech, AstraZeneca rise; Churchill Downs, Gilead fall

Aug. 24, 2020 4:27 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially Monday: XBiotech, Inc., up $1.21 to $19.57. The biotechnology company's antibody screening technology will benefit from the FDA's emergency authorization of plasma for COVID-19 patients. Catalent Inc., up $1.97 to $88.46. The maker of drug...

FILE - In this June 17, 2020 file photo, a sign advertises a sale at an H&M store along Lincoln Road Mall in Miami Beach, Fla.  
 U.S. consumer confidence had a sharp drop in July to a reading of 92.6 as coronavirus cases in many parts of the country began rising again.  (AP Photo/Lynne Sladky, File

US consumer spending up 5.6%, but virus could stall gains

Jul. 31, 2020 10:21 AM EDT

WASHINGTON (AP) — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus' resurgence in much of the country could impede further gains. Last month’s...

A woman wearing a face mask stands beneath a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, July 28, 2020. Shares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce. (AP Photo/Vincent Yu)

Asian shares advance after Wall St rally; gold extends gains

Jul. 27, 2020 11:37 PM EDT

MITO, Japan (AP) — Shares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce. Benchmarks climbed in Hong Kong, Tokyo and Shanghai after the S&P 500 rose 0.7% overnight. Much attention will be focused on a...