JPMorgan Chase & Co. tumbled as much as 5 percent, the most in 17 months, after reporting first- quarter profit that fell short of analysts’ estimates on lower revenue from fixed-income trading and mortgages.
Stored somewhere in Jim Flaherty’s garage at his home near Toronto is a waffle costume his campaign used as a prop during its losing bid for the leadership of the Ontario Progressive Conservatives in 2002.
JPMorgan Chase & Co., the biggest U.S. bank, said first-quarter profit fell 19 percent on lower revenue from fixed-income trading and mortgages, themes that may be repeated across Wall Street next week. The shares declined 2.9 percent.
Australia’s dollar rose versus most of its major counterparts before the Federal Reserve begins a two-day meeting tomorrow amid forecasts U.S. policy makers will maintain bond purchases that tend to devalue the greenback.
The euro was 0.3 percent from an almost four-week high before European Commission President Jose Barroso speaks in Brussels after calling yesterday for a “coordinated approach” to recapitalize the region’s banks.