J.P. Morgan Chase, the largest bank in the United States, posted better than expected results in the first quarter on Friday. In its statement, the company said that "the impact of rising rates" had boosted its results, as well as its net interest income.
CNBC: J.P. Morgan Chase Shares as of April 12, 2019
"We have record revenues and a record net result, a strong performance in each of our core businesses and a more constructive environment," Chief Executive Jamie Dimon said in a statement.
"Despite global geopolitical uncertainty, the US economy continues to grow, employment and wages are rising, inflation is moderate, financial markets are healthy and consumer and business confidence remains strong . "
Indeed, thanks to the good results of banks, the Dow Jones Industrial Average jumped 274 points Friday. The S & P 500 was up 0.7% and the Nasdaq Composite up 0.5%.