JPMorgan, Jobless Claims and US Equity Markets
By mid-afternoon trading, US equity markets had relinquished earlier gains coming on the back of JPMorgan’s better-than-expected quarterly results and a sharp drop in jobless claims data, as CIT bankruptcy speculation tempered sentiment.
JPMorgan Chase, one of the largest US banks, unveiled that its second-quarter net profit jumped 36% from a year ago to $2.7 billion, [...]