U.S. financial stocks in Q1 2025: JP Morgan says “chaos is inevitable,” BlackRock states “market instability persists”

2025년 첫 분기, 미국 금융 시장은 불확실성과 혼란의 경계에 서 있습니다. 주요 금융 기업들이 잇따라 실적을 발표하면서 시장의 진짜 모습이 드러났습니다. 특히 JP Morgan과 블랙록은 강력한 성과에도 불구하고 여전히 경계의 끈을 놓지 않고 있습니다. 이어지는 내용에서 실제 사례와 함께 해결방법을 확인해보도록 하겠습니다.

U.S. Financial Sector Outlook for Q1 2025: JP Morgan Says “Chaos Inevitable,” BlackRock Says “Market Unrest Continues”

In the first quarter of 2025, the global financial market remains on the edge of uncertainty and chaos. As major U.S. financial firms consecutively announced their earnings, the true state of the market was laid bare. Notably, JP Morgan and BlackRock are not easing their vigilance despite strong performance.

JP Morgan: “Significant Chaos is Coming”

Economy U.S. JP Morgan

JP Morgan Chase recorded a revenue of $45.3 billion in Q1, an 8% increase compared to the same period last year, exceeding market expectations by $1.8 billion. Earnings per share (EPS) surprised at $5.07, which included a one-time gain of $0.16 from the acquisition of First Republic.

Net interest income (NII) totaled $23.3 billion, and the annual forecast was adjusted upward by $500 million to $94.5 billion. Notably, equity trading revenue surged 48% year-over-year to $3.8 billion, while investment banking fees increased by 12% to $2.2 billion, driving overall performance.

However, CEO Jamie Dimon warned that factors such as rising tariffs, entrenched inflation, expanding fiscal deficits, and geopolitical tensions are collectively leading to “significant chaos” being inevitable. He added that while clients and the market still show resilience, the risk-averse tendencies of corporate clients are gradually expanding.

BlackRock: Record High Assets Under Management (AUM)… Yet Market Unrest Persists

Economy U.S. JP Morgan

The world’s largest asset management firm, BlackRock, reported a revenue of $5.3 billion in Q1, growing by 12%, although it fell slightly short of market expectations. However, EPS was $11.30, exceeding estimates by $1.09, demonstrating performance stability.

Most notably, BlackRock’s total assets under management (AUM) reached a record high of $11.6 trillion. This was significantly bolstered by a net inflow of $84 billion from ETFs, bonds, and private equity. Despite market instability and some outflows from index funds, base fee revenue increased by 6%, marking one of the strongest Q1s in recent years.

Particularly, the technology services segment recorded a 16% revenue increase year-over-year, driven by the acquisition of Preqin and rising demand for the Aladdin platform. Aladdin is BlackRock’s core technology platform that supports risk analysis and portfolio management for global institutional investors.

CEO Larry Fink stated, “The underlying anxiety in the market and policy uncertainty are the biggest concerns for clients,” yet emphasized that demand for infrastructure and private credit remains strong. BlackRock is expanding beyond asset management into technology and alternative investments.

The True Face of the Financial Market in 2025: Signals Beyond the Numbers

The earnings announcements from JP Morgan and BlackRock reveal that the current market is not simply a matter of ‘good vs. bad,’ but rather illustrates how complex the risk environment is. The stock market, bond market, and alternative assets are all under the shadow of uncertainty compared to high liquidity, and corporate performance reflects this duality.

Ultimately, the performance of the U.S. financial sector in Q1 2025 conveys a message of ‘strength check’ for companies maintaining solid fundamentals amidst chaos and indicates that crisis management capabilities will be key for investors preparing for the second half.