JPMorgan beats analysts’ expectations with positive earnings report, but shares dip 0.7%. BlackRock misses mark, shares plummet 6%, due to less client inflows than anticipated. Despite geopolitical and tariff uncertainty, economy remains strong according to analysts. BlackRock sees $52 billion withdrawal from single Asian client affecting second quarter results.

Despite single client withdrawal, BlackRock nets $68 billion in inflows and record $12.5 trillion in assets under management. Revenue climbs 13% to $5.42 billion, slightly missing analyst estimates. CEO Larry Fink attributes rough day to expenses from HPS Investment Partners acquisition. JPMorgan reports strong trading revenue and investment banking fees, topping revenue estimates and boosting annual net interest income forecast.

JPMorgan’s Consumer and Community Banking division sees 6% revenue increase and 23% net income rise. Credit and debit card spending up 7%, card charge-off rate falls to 3.4%. Citigroup and Wells Fargo also report positive earnings, with consumer delinquencies improving and commercial credit performance strong. Citi’s shares rise after buyback plan announcement, while Wells Fargo shares drop after Fed approval to increase assets.

Inflation concerns impact BlackRock, JPMorgan, and Wells Fargo as prices rise and US consumers face 18.7% tariff rate, highest since 1933. Bureau of Labor Statistics reports 2.7% annual inflation rate, affecting prices of appliances, furniture, and toys. The impact of tariffs on products manufactured abroad is starting to show.

Read more at Yahoo Finance: Markets Give a ‘Meh’ To Upbeat Wall Street Earnings