Traders,

The first salvo of Q1 earnings is out this morning, with big banks leading the way. JPMorgan Chase, Citigroup, and Wells Fargo reported solid earnings numbers. Shares of all three are popping, and the financial sector ETF is up over 1% at the open.

Let’s zero in on JPMorgan Chase’s numbers.

Revenue: $39.34 billion vs. $36.19 billion forecasted

Adjusted earnings: $4.32 per share vs. $3.41 per share forecasted

It was a record-setting first-quarter revenue number. JPM stock is up over 6%, clearing its falling 50-day moving average and multiple horizontal resistance zones. It’s now within striking distance of its 2023 high of $144.34.

Chart of the Day: JP Morgan Chase (JPM)

So far, so good on the post-earnings reaction!

Today’s line up

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