JPMorgan, Biggest US Banks Slip With Wobbly Economic Outlook
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Year-end earnings reports from the biggest US banks met less-than-enthusiastic receptions on Wall Street, amid signs that a shakier economy lies ahead.
Beats on revenue and profit didn’t do much to impress investors because forecasts for some key metrics came in worse than expected, and all of the lenders put aside more money to cover loans that might go bad. In most cases, the sums were more than analysts had reckoned.