JP Morgan stocks down despite positive data

<p>Positive data has not propped up the share price of JP Morgan.</p>

The share price of JP Morgan is down today (April 11th) despite the bank announcing that it has made a record quarterly profit in its broadly positive financial results.

It was revealed by the company that it made first quarter profits of $6.5 billion (£4.2 billion) and has seen signs the US economy is getting stronger.

Jamie Dimon, chairman and chief executive of the bank, stated all parts of the business have been performing well in the first three months of the year.

"We are seeing positive signs that the economy is healthy and getting stronger. Housing prices continued to improve and new home purchases are also starting to come back," he said in a statement.

But despite the fact JP Morgan seems to be going from strength to strength, investors have shied away from the bank today.

Its share price was recorded at 16:00 BST as having fallen by 0.73 points and its stocks had dropped below the 49 point mark.

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