JPMorgan Chase's quarter was mixed: EPS $5.75 missed expected $5.94 and FICC trading revenue $5.37B missed the ~$6B estimate, though equity trading partly offset it. Shares fell ~3% pre-market but reversed positive after fiscal-year NII guidance of ~$106.2B topped ~$105.3B estimates; Jamie Dimon was cautious on risks.

But let's start with JPMorgan Chase. They were the first to start these results, and what is interesting is that the stocks were affected initially before we even started talking. I saw that the shares were slightly higher.

Yes, it was a very mixed quarter here. As you know, there has been a rare failure to achieve the profits of the upper and lower expectations. Earnings per share came in at $5.75, compared to the expected $5.94 .

The managed revenues amounted to approximately $50.9 billion. Total revenues amounted to approximately $50.2 billion. That was a minor failure.

If you look at it, the stock's performance has reversed. Remember that it fell by about 3% in pre- trading before JPMorgan came out and said they expect net interest income for the fiscal year of about $106.2 billion, compared to estimates of about $105.3 billion.

Therefore, this immediately caused the stock to move into positive territory.

Now, let's analyze some numbers. I think the biggest concern was about trading in commodities and currencies. Revenue from trading in fixed income, currencies and commodities amounted to $5.37 billion, compared to their estimate of approximately $6 billion.

That was a failure rate of 10.5%. Investment banking revenues reached $3.1 billion. Dollars. We have seen strength in equity trading that has offset some of the loss in fixed income, currency and commodity trading revenues.

Net income from consumer banking rose 13% year-on-year to nearly $5.7 billion, and net income from asset and wealth management was around $1.84 billion. That was an 11% year-on-year increase.

So, despite their shortcomings in upper and lower earnings, I think you should take that into account when you start looking at net interest income, commodity trading and fixed income, which were slightly weaker.

Jamie Dimon naturally came out with his cautious note about the risks, but he pointed out that every line of business had performed well and revenues had increased across all their sectors at this stage.