TLDR 

MARKET RECAP → Stocks bounced back Friday, closing out one of Wall Street’s most chaotic weeks on a high note.

CONSUMER SENTIMENT SLIDES AS INFLATION FEARS SURGE →📉 Consumer confidence collapsed in April as inflation expectations hit levels not seen since the early ’80s, with recession alarms now ringing across every demographic.

JPMORGAN CHASE TOPS QUARTERLY EXPECTATIONS  → 💰 JPMorgan crushed Q1 expectations with a trading-fueled revenue surge, but CEO Jamie Dimon warned that tariffs, inflation, and market chaos mean smooth sailing is far from guaranteed.

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MARKETS

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TODAY’S TOP NEWS

Consumer Sentiment Slides As Inflation Fears Surge

📉 Consumer sentiment plunged to 50.8 in April, marking a 10.9% drop from March and the lowest since the depths of the pandemic. Inflation expectations shot up to 6.7%—a level not seen since 1981—adding fresh anxiety to already fragile consumer confidence.

🛍️ Both the current conditions and expectations indices took double-digit hits, reflecting widespread concerns about business conditions, incomes, and labor markets. The downturn spanned all age groups, income levels, and political affiliations.

⚠️ Survey director Joanne Hsu flagged rising recession risks, citing consumer reports of deteriorating finances, weakening job prospects, and growing uncertainty. Not exactly the vibe you want heading into summer.

TODAY’S TOP NEWS

JPMorgan Chase Tops Quarterly Expectations

📈 JPMorgan beat Q1 expectations with earnings of $5.07 per share and $46.01B in revenue, thanks largely to a 48% surge in equity trading—its strongest area this quarter. Revenue from asset management and investment banking also helped pad the bank’s bottom line.

⚠️ Despite the blowout numbers, CEO Jamie Dimon warned of “considerable turbulence” ahead, citing geopolitical risks, sticky inflation, Trump’s tariffs, and persistent market volatility. He emphasized preparing the bank for a wide range of scenarios.

🌀 Dimon’s caution mirrored the broader market mood, where policy uncertainty and slowing economic indicators weighed on investment banking but boosted trading. JPMorgan shares rose about 3% on the results, signaling cautious optimism on Wall Street.

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