The head of the second-largest bank in the U.S. by assets is not as pessimistic as the CEO of the top lender.
Jamie Dimon, the JPMorgan Chase JPM chairman and chief executive, got everyone’s attention when he warned there’s an economic hurricane coming, from rate hikes, the war in Ukraine and inflation.
Brian Moynihan, the chairman and chief executive of Bank of America BAC , had a chance to respond, at the very same Bernstein Strategic Decisions Conference where Dimon intoned his weather-themed pessimism. “We’re in North Carolina,” he said. “You’ve got hurricanes that come every year.” Moynihan said he understands the worries about recession, as he said credit costs will likely increase. But he said there isn’t the volatility around outcomes that investors may fear.
Hewlett Packard Enterprise HPE slumped after-hours after earnings and sales missed estimates. Chewy CHWY rallied after the online pet-products retailer reported a surprise profit in its fiscal first quarter. The OPEC oil cartel is expected to keep to its production plans, amid reports Saudi Arabia is ready to replace any lost output from Russia.The markets U.S. stock futures ES00 NQ00 pointed higher after two days of losses for the S&P 500 SPX .Top tickers Here were the most active stock-market tickers as of 6 a.m. Eastern.
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