not vested
ANOTHER FINANCIAL POWERHOUSE IS SHOWING STRENGTH
Today's chart highlights a major bank benefiting from economic reforms...
We often like to check in on America's "financial backbone" – that is, the country's biggest banks. These include firms like Morgan Stanley (MS), Bank of America (BAC), and Citigroup (C).
When big banks are thriving, that typically means our economy is, too... It shows Americans are making and saving money.
JPMorgan Chase (JPM) is among these companies. With $2.5 trillion in assets, it's the largest bank in the U.S. The firm returned about $6.7 billion to shareholders in the fourth quarter. And like many banks, JPMorgan is also benefiting from the recent tax reforms.
Its effective tax rate will likely drop from 35% to 19%... And it recently stated that it will use these savings to open new branches, raise wages, and increase lending to small businesses.
As you can see in the chart below, shares are sitting at fresh all-time highs. The stock is up around 30% over the past year. Many expect tax reform to boost economic growth in the U.S. And right now, it's doing wonders for this banking giant...
Source: Daily Wealth