Jamie Dimon is counting

Jpmorgan chase CEO Jamie Dimon On Friday, he said he expects corporate income assessments to fall amid uncertainty created by the president Donald TrumpTrade negotiations.

At the call with journalists to discuss the first quarter incomeJPMorgan Director Jeremy Barnum said he did not see the reasons to pull the bank’s management, which depends on how the economy and interest rates are developing.

His chief, the smoke, then intervened, telling about the wide corporate world: “I would just add companies, some took away their recommendations. I guess I will see more.”

“Analysts tend to reduce the income from S&P by 5%,” said Dimon. “I think you’ll see that a few more will leave.”

Later, on Friday, the Dimon specified that it expects analysts to cut their S&P 500 profits to grow 5%, and then as much as 5%, “perhaps next month.”

Companies will report income over the next few weeks, giving executives the opportunity to update investors at their worldview during the increased uncertainty. Last week, the markets came out since Trump announced a wide set of tariffs on trading partners in America and remained changing as US tensions grew.

Already companies that are on consumer impact, including Walmart. Delta and Frontier Airlines were brought to the districts of them control to investors.

The uncertainty causes customers who retreat from the acquisition of companies and investments when they take the attitude to the expectation and see, said Dimon and Barnum.

Anecdotal examples suggest that “people are careful,” said the smoke. “You know that people are returning to transactions, not just big but also the mid -market companies are very cautious about investments.”

Barnum added that the environment made businesses to abandon long -term plans for the “closest supply network optimization”.

“This level of uncertainty of politics is one that makes it difficult to plan for the long term,” Barnum said.

Meanwhile, consumers have kept in the first quarter, and recently there are signs that they accelerate the purchase on the issues that tariffs will make the items more expensive, the financial director said.