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Wells says JPMorgan could become first $1 trillion dollar bank

Wells Fargo believes JPMorgan’s (JPM) investor day next Monday will show that “Goliath is Winning.” JPMorgan could become the first trillion dollar market capitalization bank if it continues with its leading returns, efficiency, and market share gains over three years, the analyst tells investors in a research note. Wells believes a “good case” scenario could get JPMorgan to a $1 trillion market cap in three years, with effective deployment of record excess capital. It estimates the bank will ha

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Fed to stay patient amid cooling trade war and inflation

(Reuters) -Tamer-than-expected inflation and a significant de-escalation of a U.S.-China trade war are easing fears of a sharp squeeze on American households and businesses in coming months, prompting Wall Street firms to pare predictions of a recession and giving the Federal Reserve room to leave interest rates where they are. JP Morgan Chase and Barclays were among firms adjusting their forecasts on Tuesday to reflect a more benign economic trajectory after the United States and China reached a deal over the weekend to reduce the most punitive of the tariffs they had put on each other since early April. JP Morgan economists now see the chance of a recession as less than 50%; Barclays economists no longer have recession in their forecast at all.

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