JPMorgan announced an increase in net income to $14.6 billion in the initial quarter, showing a 9% rise, surpassing the financial expectations set by Wall Street. However, the bank's chief executive, Jamie Dimon, expressed concerns over global economic uncertainties, mainly attributed to President Donald Trump’s ongoing trade war and other geopolitical tensions.

Dimon acknowledged the significant contribution of the bank’s markets division to its successful quarter but also highlighted the potential negative impact of trade tensions on the bank and the broader economy. Earnings per share climbed to $5.07 from $4.44 the previous year, beating Wall Street's predicted $4.63 per share. Total managed revenue also rose to $46 billion, exceeding the estimated $44 billion.

The erratic tariff adjustments by Trump, including an increase of 10% for most U.S. trading partners and 145% for China, have led to market volatility, creating uncertainty about the global economic outlook. This instability is unfavorable for banks that rely on stability and healthy borrowing conditions.

JPMorgan's trading desk capitalized on the market's volatility in the initial months of 2025, with the bank's markets revenue surging by 21% and equities revenue by 48% compared to the previous year. To cover bad loans, JPMorgan set aside $3.3 billion, up from $1.9 billion, and initiated stock repurchases worth $7 billion while increasing its dividend by 12%.

The bank's shares observed a 2.4% rise in premarket trading. Similarly, Wells Fargo also released its first-quarter results, achieving a net income of $4.89 billion, or $1.39 per share, surpassing analysts' expectations of $1.23 per share. CEO Charles Scharf expressed support for the administration's approach of examining trade barriers but warned of potential risks associated with significant actions, stating the bank's readiness for a potentially slower economic environment in 2025.

Wells Fargo's shares saw a 1.7% increase in premarket trading.