JPMorgan's Earnings Report: Profits Rise, but Concerns Linger Over Interest Income and Inflation

Shares of major banks JPMorgan Chase & Co., Wells Fargo, and Citigroup opened trading under pressure due to a decline in net interest income, reflecting the difference between the interest banks earn and pay out. JPMorgan CEO Jamie Dimon expressed concerns about consumer spending pressures and maintained the bank's net interest income outlook, while also noting a potential pullback in spending among low-income consumers amidst an uncertain economic environment.