Stocks
JPMorgan Sees Big Gains Coming in Q3 Trading Revenue
JPMorgan Chase & Co. is predicting a strong third quarter for its trading revenue and investment banking fees, according to Co-President Doug Petno.
Petno told attendees at a Barclays Plc conference on Tuesday that the bank's trading revenue is expected to climb by a percentage in the mid-to-high teens. He also forecasted similar gains for JPMorgan's investment banking fees during the same period.
The predictions come after Bank of America Corp. issued a warning earlier this week about potential third-quarter challenges in the industry. In contrast, Petno expressed optimism about JPMorgan's performance.