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JPM’s Profit Plunge, Fed’s “Fantasy,” Delta Shares Soar 4/13/22

JPM’s Profit Plunge, Fed’s “Fantasy,” Delta Shares Soar 4/13/22

Carl Quintanilla, Jim Cramer and David Faber begin the hour by breaking down JPMorgan’s Q1 results. The big bank reported a $524 million hit from market dislocations caused by Russian sanctions. The company’s profit dropped 42% from a year earlier to $8.28 billion. Another big name reporting results to watch is Delta Air Lines, announcing it is expecting a return to profit this quarter thanks to a jump in bookings and fares. Also in the mix: St. Louis Fed President James Bullard said it is a “fantasy” to believe modest rate rises can effectively combat inflation.

Squawk on the Street

April 13, 202242m 43s

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Show Notes

Carl Quintanilla, Jim Cramer and David Faber begin the hour by breaking down JPMorgan’s Q1 results. The big bank reported a $524 million hit from market dislocations caused by Russian sanctions. The company’s profit dropped 42% from a year earlier to $8.28 billion. Another big name reporting results to watch is Delta Air Lines, announcing it is expecting a return to profit this quarter thanks to a jump in bookings and fares. Also in the mix: St. Louis Fed President James Bullard said it is a “fantasy” to believe modest rate rises can effectively combat inflation. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
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