US stocks surged on Wednesday after JPMorgan Chase kicked off the banks’ Q3 results season by announcing its biggest profit since 2007: $3.6bn in Q3 net income. The result easily beat analysts’ expectations and set a high bar for  Goldman Sachs, Citigroup and Bank of America, which report later this week. The news, coupled with unexpectedly resilient US retail sales figures and earnings from Intel on Tuesday, drove a broader market rally. Lex, meanwhile, examines the challenges ahead for JPMorgan.

This entry was posted by Gwen Robinson on Thursday, October 15th, 2009 at 4:58 and is filed under Capital markets. Tagged with BofA, citi, goldman sachs, jpmorgan chase. Edit this entry.