Latest JPMorgan Chase & Co News

Job seekers exercise social distancing as they wait to be called into the Heartland Workforce Solutions office in Omaha, Neb., Wednesday, July 15, 2020. Nebraska reinstated job search requirements this week for most people claiming jobless benefits. Those unemployment insurance requirements were suspended in mid-March to help employees who had lost their jobs due to the coronavirus. (AP Photo/Nati Harnik)

More than 1M Americans seek help as companies cut more jobs

Jul. 16, 2020 1:46 PM EDT

WASHINGTON (AP) — More than a million Americans sought unemployment benefits last week, indicating that companies are cutting more jobs as the resurgent coronavirus scythes through the Sunbelt and some of the nation's most populous states. Layoffs in Florida, Georgia and California rose by tens of...

US retail sales jump 7.5% in June, but economy still ails

Jul. 16, 2020 9:19 AM EDT

BALTIMORE (AP) — U.S. retail sales climbed a solid 7.5% in June, a sign that the economy was healing right before infections from the coronavirus spiked again and dragged down hopes for a steady recovery. The Census Bureau reported Thursday that retail sales are 1.1% higher than their levels from a year...

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Wednesday, July 15, 2020. Shares were mostly higher in Asia on Wednesday as investors were encouraged by news that an experimental COVID-19 vaccine under development by Moderna and the U.S. National Institutes of Health revved up people’s immune systems just as desired. (AP Photo/Eugene Hoshiko)

Asian markets mostly higher on hopes for coronavirus vaccine

Jul. 14, 2020 11:38 PM EDT

Shares were mostly higher in Asia on Wednesday as investors were encouraged by news that an experimental COVID-19 vaccine under development by Moderna and the U.S. National Institutes of Health revved up people’s immune systems just as desired. Tokyo's Nikkei 225 advanced 1.4% to 22,912.24, while the...

Ford Motor, Xylem rise; Mohawk Industries, Wells Fargo fall

Jul. 14, 2020 4:12 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Tuesday: Xylem Inc., up $5.99 to $73.33. The supplier of technology for water treatment plants gave investors an encouraging revenue update and announced two contracts. Ford Motor Co., up 30 cents to $6.36. The carmaker relaunched its...

FILE - In this Jan. 15, 2015, file photo, a Citibank sign hangs above a branch office in New York.  The tens of millions of consumers and businesses out of work from the coronavirus pandemic weighed heavily on the financial results of Wall Street’s biggest banks on Tuesday, July 14, 2020, with the likes of JPMorgan Chase, Wells Fargo and Citigroup setting aside tens of billions of dollars to cover potentially bad loans that were just fine only a few months ago. (AP Photo/Mark Lennihan, File)

Banks set aside billions, bracing for more economic pain

Jul. 14, 2020 2:45 PM EDT

NEW YORK (AP) — With tens of millions of Americans out of work and many businesses shut down or operating under restrictions due to the coronavirus, three of the nation's biggest banks set aside nearly $30 billion in the second quarter to cover potentially bad loans that were fine only a few months ago. ...

FILE- This Jan. 11, 2016, file photo shows a Chase bank branch in New York.  The coronavirus pandemic is weighing heavily on the financial health of JPMorgan Chase. The nation’s largest financial company said Tuesday, July 14, 2020, that it set aside billions of dollars in the second quarter to cover potential losses from all the businesses and consumers who are unable to pay their debts due to the slumping U.S. economy. (AP Photo/Mark Lennihan, File)

JPMorgan profit hit hard by pandemic, as consumers struggle

Jul. 14, 2020 7:45 AM EDT

NEW YORK (AP) — The coronavirus pandemic is weighing heavily on the financial health of JPMorgan Chase, as the nation’s largest financial company set aside billions in the second quarter to cover potential losses from all the businesses and consumers who are unable to pay their debts due to the...

A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Tuesday, July 14, 2020. Asian shares fell Tuesday as skepticism set in about the recent upbeat mood on global markets, as newly confirmed coronavirus cases rose in the U.S., Brazil and parts of Japan. (AP Photo/Kin Cheung)

Asia shares drop on jitters over virus, China-US friction

Jul. 13, 2020 11:28 PM EDT

TOKYO (AP) — Shares fell in Asia on Tuesday as skepticism set in about the recent upward momentum in global markets given rising confirmed coronavirus cases and percolating tensions between the U.S. and China. The White House’s decision to reject nearly all Chinese maritime claims in the South...

This Week: Bank earns, retail sales, housing starts

Jul. 13, 2020 1:10 AM EDT

A look at some of the key business events and economic indicators upcoming this week: BANK EARNINGS Several major U.S. banks report quarterly results Tuesday. JPMorgan, Citigroup and Wells Fargo are set to deliver their earnings for the April-June quarter. Investors will be focusing on whether the banks’...

Workers wearing masks walk by the New York Stock Exchange during the coronavirus pandemic, Thursday, July 9, 2020, in New York. (AP Photo/Mark Lennihan)

Wall Street rallies as optimism returns to cap erratic week

Jul. 10, 2020 4:33 PM EDT

NEW YORK (AP) — Optimism returned to Wall Street on Friday, and stocks rallied to cap a shaky week dogged by worries that rising coronavirus counts may halt the economy’s recent upswing. The S&P 500 climbed 1%, and the biggest gains came from cruise ship operators, airlines, banks and other...

A man walks in the rain past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, July 10, 2020. Asian stock markets followed Wall Street lower Friday on worries economic improvements might fade as coronavirus cases increase in the United States and some other countries. (AP Photo/Eugene Hoshiko)

Asian stocks sink after Wall St losses on economy worries

Jul. 9, 2020 11:43 PM EDT

BEIJING (AP) — Asian stock markets followed Wall Street lower Friday on worries economic recoveries might fade as coronavirus cases increase in the United States and some other countries. Benchmarks in Shanghai, Tokyo, Hong Kong and Southeast Asia retreated a day after strong gains driven by the rise of...