JPMorgan, Wells Fargo and Morgan Stanley set to post lower than expected Q1 results on Friday amid tariff chaos

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JPMorgan, Wells Fargo and Morgan Stanley set to post lower than expected Q1 results on Friday amid tariff chaos - Fortune

Quick Summary:

Mayo expects the New York bank to report $1.90 a share, compared to consensus estimates of $1.84.

"The key reason is a degree of paralysis from policy uncertainty that makes us more conservative for investment (slow year to date start), loans (no acceleration yet), fixed asset repricing (lower fwd rates), and reserves (affected by estimated lower GDP growth),” Mayo wrote.

JPMorgan, in the short term, should benefit from volatility given its role as a market facilitator, while in the medium term, the bank should be among those most set to benefit from deregulation, Mayo said in a March 27 note.