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JPMorgan Chase earnings topped expectations in the first quarter, with profits rising 9%. Despite the beat, CEO Jamie Dimon expressed his concerns about the US economy, saying it faces 'considerable turbulence.' The bank is among several big names reporting today, including Morgan Stanley, Wells Fargo, and BlackRock. On the tariff front, futures are higher despite rising global trade tensions. China retaliated today, raising its 84% tariff on US goods to 125%. This comes after the White House raised tariffs against the country to 145% yesterday,
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It's time for your Yahoo! Finance's Market Minute. China slaps back overnight raising its tariff on US imports to 125%, up from 84%, starting Saturday. Beijing also saying it will no longer match any tariff increases by the United States. Markets taking the news in stride right now, futures edging up 90 minutes ahead of the opening bell. But it's been a wild week on Wall Street. Some of the most intense action this week has been in the foreign exchange market, the dollar down for the fifth straight day. The other big story for Wall Street bank earnings. JP Morgan reporting first quarter results earlier, beating analyst estimates on the top and bottom lines. But JP Morgan chairman and CEO Jamie Dimon warning in the release that the economy is facing considerable term turbulence. Wells Fargo also reporting earnings ahead of the open, the bank posting mixed results for the first quarter. Earnings beat estimates but revenue came in light. And that is your Yahoo! Finance Market Minute.