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http://www.huffingtonpost.com/2012/07/13/dow-jones-jpmorgan-chase_n_1672380.html
NEW YORK — JPMorgan Chase blew away a cloud of concern hanging over the banking industry Friday and set off a rally in stocks. Relieved investors drove up bank stocks, ended a six-day losing streak for the market and sent the Dow Jones industrial average up 204 points, the best day this month.
JPMorgan jumped 6 percent, the biggest gain in the Dow by far....
JPMorgan revealed that the loss from a derivative trade it first disclosed in May had grown to $5.8 billion, nearly triple the original estimate. Its stock shot up $2.03 to $36.07....
No, don't even try to figure it out. I suppose the traders were worried about the $19 billion estimate some were giving, and so they were ecstatic that it is only $5.8 billion--SO FAR. Jamie Dimon is still saying that "it could go higher." Perhaps if the loss reaches $10 billion, the stock market will go up 400 points.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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