JPMorgan CEO Dimon talks inflation, Delta’s good news, AMC’s acquisition: LIVE UPDATES
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The Centers for Disease Control and Prevention (CDC) will extend its travel mask mandate for 15 more days despite protests from airlines.
President Biden's administration had previously extended the federal mask mandate to April 18 in early March. Airline CEOS united in calling on Biden to end the mandate on March 24, but to no avail.
Amazon informed sellers of the move in an email on Wednesday, saying, "In 2022, we expected a return to normalcy as COVID-19 restrictions around the world eased, but fuel and inflation have presented further challenges."
The company said it will begin charging the fee April 28.
After JPMorgan's disappointing quarter, in which both profits and revenue dropped from the same period a year-ago, shares fall to the lowest since January 2021 - $125.65: Dow Jones Market Data Group.
"With a strong rebound in demand as omicron faded, we returned to profitability in the month of March, producing a solid adjusted operating margin of almost 10 percent. As our brand preference and demand momentum grow, we are successfully recapturing higher fuel prices, driving our outlook for a 12 to 14 percent adjusted operating margin and strong free cash flow in the June quarter," said Ed Bastian, Delta's chief executive officer.
"We remain optimistic on the economy, at least for the short term – consumer and business balance sheets as well as consumer spending remain at healthy levels – but see significant geopolitical and economic challenges ahead due to high inflation, supply chain issues and the war in Ukraine" said CEO Jamie Dimon in the company's first quarter earnings release.
JPMorgan Chase & Co reported a fall in first-quarter earnings on Wednesday, hurt by a slowdown in dealmaking brought on by the Ukraine conflict and a decline in trading revenue.
The largest U.S. lender, whose fortunes are often seen as a barometer of the health of the economy, posted a profit of $8.28 billion, or $2.63 per share, in the quarter ended March 31, compared with $14.3 billion, or $4.50 per share, a year earlier.
Analysts on average had expected earnings of $2.69 per share, according to Refinitiv.
Read the full story: JPMorgan profit falls 42% on slowdown in deals, trading
U.S. equity futures traded higher Wednesday morning ahead of the start of earnings season for the big banks. Earnings reports are expected from JPMorgan Chase, BlackRock and Delta Air Lines. Continue reading
Oil prices bounced between gains and losses Wednesday morning on worries about sliding output in sanctions-hit Russia, tightening supply after Moscow said talks to resolve its invasion of Ukraine had come to a dead end. Continue reading
Bitcoin hovered around $40,000 on Wednesday morning after trading lower in eight of the past nine days. The cryptocurrency is down more than 13% month-to-date and off more than 14% year-to-date. Continue reading
The average price for a gallon of gasoline in the U.S. slipped on Wednesday to $4.083, according to the latest numbers from AAA. The price on Tuesday was $4.098. The previous record high was $4.33, set on Friday March 11, 2022.
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