JPMorgan Earnings Miss, Delta Delays Riyadh Route, and Market Reactions
Big banks kicked off the earnings season with mixed results. JPMorgan Chase reported weaker-than-expected revenue and profits due to lower fixed income trading performance and higher expenses. CEO Jamie Dimon noted a moderation in Wall Street unit activity. Shares initially dropped over 3% but recovered after an upward revision of net interest income guidance for 2026. Goldman Sachs, by contrast, exceeded expectations with record advisory revenue and strong equities trading growth, leading to more than a 3.5% premarket gain in its stock price. Wells Fargo also beat earnings estimates despite missing on revenue, as CEO Charlie Scharf noted consumer resilience amid economic risks like high interest rates and inflation. Meanwhile, Delta Air Lines delayed the launch of its first nonstop U.S.-Saudi Arabia route due to safety concerns following attacks at Riyadh's airport. The service is now expected in March instead of later this month.