Tomorrow (11 October) sees the release of third-quarter earnings from JPMorgan Chase (JPM:NYSE), America’s biggest bank by market cap and the 12th-largest company in the S&P 500 index.

With a market value of $445 billion and annual revenue of around $130 billion, which includes investment banking, corporate lending, retail banking and credit cards, the firm has become a bellwether for the US economy.

While second-quarter earnings beat forecasts, chief executive Jamie Dimon was quick to dial down expectations for top-line growth going forward now the Federal Reserve has begun cutting interest rates, suggesting analysts’ forecasts for the year-end were too high.

Dimon also cautioned about ‘tail risks’ to the market and the economy such as geopolitics, sticky inflation, large fiscal deficits, the restructuring of trade post-Covid and the increasing militarisation of foreign nations.

However, the bigger risk to JPMorgan shareholders is the question of succession after Dimon said earlier this year his timeline for stepping down was no longer five years.

Analysts believe there is a ‘Jamie premium’ of 10% to 15% which could be wiped out when Wall Street’s longest-serving chief executive decides to hang up his boots.

Dimon has run JPMorgan for 18 years, a period which includes the financial crisis, and is one of the most influential figures in corporate America.

The 68-year-old is seen as a key force behind the bank's record profits, market share gains and performance which consistently beats rivals.

Dimon told investors at a conference this month ‘We'll do the right thing’, according to a report by Reuters, before adding: ‘It's the last and most important thing I'll ever deal with, and we all want to get that exactly right.’

US UPDATES OVER THE NEXT 7 DAYS

11 Oct: Bank of NY Mellon, Fastenal, JP Morgan, Wells Fargo 

14 Oct: Charles Schwab

15 Oct: Bank of America, BlackRock, Citigroup, Goldman Sachs, J&J, Omnicom, PNC Financial, State Street, United Airlines, UnitedHealth, Walgreens Boots

16 Oct: Abbott Labs, CSX, Discover, Elevance Health, Equifax, Lam Research, Morgan Stanley, PPG Industries, Prologis, Steel Dynamics, US Bancorp

17 Oct: Netflix, Blackstone, Intuitive Surgical, Marh McLennan

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