All eyes on JPMorgan as banks report earnings

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Associated Press

Posted on July 12, 2012 at 8:34 AM

Updated Thursday, Jul 12 at 9:01 AM

NEW YORK (AP) — It's been a scandal-filled few months for banks.

JPMorgan Chase revealed a $2 billion trading loss. Then the large banks were implicated in a global dust-up over interest rate manipulation.

All this happened amid signs of a slowdown in the U.S. and Chinese economies and a debt crisis in Europe. That won't help the banks as they report their financial results for April through June.

All eyes will be on JPMorgan on Friday. It's the first bank to report. The trading loss rattled the company's stock price and hurt both its reputation and that of CEO Jamie Dimon.

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