Previous close | 3.4930 |
Open | 3.5440 |
Volume |
Day's range | 3.5180 - 3.5520 |
52-week range | 1.6820 - 4.3330 |
Avg. volume | 0 |
Jamie Dimon is one of the most respected voices on Wall Street. In its earnings release, the bank said it was taking a provisional charge of $2.3 billion for credit losses, including a $1.4 billion build on reserves for future losses. CFO Jeremy Barnum elaborated that the bank's outlook included the unemployment rate peaking at 4.9%.
In fact, the Nasdaq Composite posted its lowest close of the year on Dec. 28, 2022, after the stock market drifted downward following the Federal Reserve's forecast to raise the federal funds rate by another 75 basis points in 2023. Fed Chair Jerome Powell stood by earlier comments that the central bank was determined to bring down inflation to its 2% target even if it meant some pain in the job market and the economy.
What to know in markets on Thursday, January 19, 2023.