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What Occurred in the Stock Exchange Today

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Third-quarter profits season kicked off with strong reports from JPMorgan Chase and UnitedHealth Group.

Jim Crumly

Major standards climbed up higher after third-quarter profits reports offered some good news for financiers today. The Dow Jones Industrial Average( DJINDICES: ^ DJI) and the S&P 500( SNPINDEX: ^ GSPC) got about 1%. The healthcare and monetary sectors led the marketplace, and growth stocks in the communications services sector also did well. The utility and consumer staples sectors were laggards.

Today’s stock market

Index Portion Modification Point Modification
Dow 0.89% 23744
S&P 500 1.00% 2953

Information source: Yahoo! Finance.

Banks began reporting third-quarter profits today, and JPMorgan Chase( NYSE: JPM) led off with strong results. UnitedHealth Group( NYSE: UNH) also cheered financiers with a solid report.

Man on a ladder drawing upward graph on brick wall.

Image source: Getty Images.

Consumers improve JPMorgan

JPMorgan Chase, the nation’s largest bank, reported third-quarter outcomes that were well ahead of expectations, and shares increased 3%. Income grew 8.1%to $3006 billion, compared to Wall Street’s projection of only 2.4%growth. Earnings per share increased 14.5%to $2.68, beating the expert agreement by $0.36 per share.

Regardless of falling interest rates, JPMorgan managed to grow interest earnings 2%to $144 billion. However many of the bank’s development came from noninterest revenue, which increased 14%to $157 billion. Greater volumes in home lending and auto leasing, as well as loan growth in credit cards helped the consumer and community banking service grow revenue by 7%and earnings by 5%. Trading earnings increased 14%to $5.1 billion, boosted by a 25%jump in fixed earnings trading. Schedule worth per share increased 8%to $7524

CEO Jamie Dimon stated that development in the U.S. economy has slowed somewhat. The consumer remains strong, however company sentiment is weakening due to increased geopolitical threats and worldwide trade stress

Healthy arise from UnitedHealth Group

UnitedHealth beat expectations for third-quarter results and raised its assistance for the full year, sending shares up 8.2%. Earnings grew 6.7%to $604 billion and changed revenues per share increased 13.8%to $3.88 Analysts were expecting the company to post adjusted EPS of $3.75 on earnings of $598 billion.

UnitedHealth’s Optum health services company once again led the business’s income and profit growth. The sector grew profits by 13.3%to $288 billion and earnings from operations by 16.1%. The health care coverage system, United Health care, increased profits 4.7%to $481 billion and grew operational earnings by 3.8%. The business included 315,00 0 senior citizens to its Medicare Benefit program, representing a 6%gain.

Thanks to its strong third-quarter efficiency, UnitedHealth raised its full-year EPS assistance by $0.15 to a series of $1490 to $1500 Expecting next year, executives on the teleconference stated that a “prudent” price quote of core profits growth in 2020 would be towards the low end of its 13%-16%long-lasting development rate.


Jim Crumly has no position in any of the stocks mentioned. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.

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Jim Crumly has no position in any of the stocks discussed.

The Motley Fool suggests UnitedHealth Group. The Motley Fool has a disclosure policy

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