Wall Street is minting money as Main Street struggles with inflation and burnout
CNN
The Main Street and Wall Street gap is widening again. Big banks had a stellar end to 2021 with rates on the rise. Yet many Americans are hurting from surging prices and burnout from the Covid-induced labor shortage.
JPMorgan Chase posted strong results for the fourth quarter Friday, including a $10.4 billion profit that topped forecasts. Still, JPMorgan Chase's earnings were down 14% from the same quarter the previous year as trading revenue fell.
Shares of JPMorgan Chase (JPM) dipped more than 4% in premarket trading on the news.
President Joe Biden asserted Friday that Hamas has been degraded to a point where it can no longer carry out the type of attack that launched the current 8-month conflict in Gaza, laying out a three-phase proposal Israel has submitted to wind down the grinding crisis as he declared, “It’s time for this war to end.