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What you need to know on Wall Street today
Hello. Here's what you need to know on Wall Street today.
Wall Street is celebrating a bumper quarter in equity trading.
JPMorganandCitigroupannounced first-quarter earnings on Friday, with both beating solidly. The two banks also posted gains in markets revenue, with JPMorgan's markets revenueup 7% on an underlying basisand Citigroup'stotal markets and securities securities revenue up 3%.
Those gains were driven by equities revenue, with JPMorgan posting record equities revenue of $2 billion and Citigroup posting a 38% gain in equities revenue to $1.1 billion. Here's the latest:
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- JPMorgan beats, profits jump 35%
is looking to hire 60 people for Marquee, an API store inspired by the firm's CFO Marty Chavez, people familiar with the matter told Business Insider.
In markets news:
- J
- PMorgan says stocks are about to shatter a postcrisis record — and most of Wall Street could be caught off guard
- The volatility that rocked stocks was just the beginning — and 2 markets are at the epicenter of impending chaos, SocGen says
- Oil has "one last gush on the horizon"
- 13 stocks will see explosive sales growth that will help them crush earnings season, Goldman Sachs says
Lastly, in tech news:
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- Zuckerberg's Congressional appearance went okay, but some on Wall Street still worry the Cambridge Analytica scandal will hurt its business
- A key Dropbox exec quit just weeks after its blockbuster IPO — but experts say it could be good in the long run
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