JPMorgan profit surges helped by trading, investment banking boost


JPMorgan Chase & Co reported a surge in first-quarter earnings on Wednesday, as the largest U.S. bank released more reserves and was aided by a blowout quarter from its trading desks and soaring investment banking fees. JPMorgan, widely seen as a barometer of the health of the broader U.

S. economy, was also helped by favorable comparisons to last year when the COVID-19 pandemic forced the bank to build reserves against the risk of a wave of loan defaults. Net income rose to $14.3 billion, or $4.50 per share, in the quarter ended March.....

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