PhotoJPMorgan Chase’s financial results came in slightly stronger than expected on Friday, despite a big one-time hit from the new tax law, and they indicate that the bank and its peers could grow even more profitable in the years ahead. JPMorgan’s results are an important bellwether for the entire financial industry. It’s the biggest bank in the United States by assets. And it’s the first large bank to report its quarterly and annual results, most likely foreshadowing the performances that its rivals will report over the next week. The changes prompted many banks and other corporations to adjust their balance sheets to create the optimal mix of assets that ultimately will result in the lowest possible tax rate.

Source: New York Times January 12, 2018 14:03 UTC