JP Morgan Chase reports 9% increase in Q1 profits

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00:00And in news overseas, JPMorgan Chase reported a 9% increase in first quarter profits reaching $14.6 billion,

00:09with revenues up 8% to $45.3 billion, surpassing analysts' expectations.

00:15The growth was driven by strong trading revenues, especially in equities and derivatives, amidst market volatility.

00:21However, CEO Jamie Dimon warned of considerable turbulence in the economy

00:26due to geopolitical tensions, trade wars, and other economic risks.

00:31Investment banking activity slowed as clients grew more cautious.

00:35The bank also increased its loan loss reserves by $973 million,

00:40signaling preparation for potential economic downturns.

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