The meaning of JPMorgan and Bank of America's earnings

After Wells Fargo and Citigroup missed estimates, albeit by a hair, many wondered about the fate of other top banks (see next item). Well, JPMorgan walloped the estimates by a full nickel. Bank of America also fared well. So that's good news. At both banks, credit losses were low. Still, executives are wisely sounding strong notes of caution with analysts and the press. At JPMorgan, credit card losses will likely soar. And while the pipeline of investment banking deals is full--it was a key earnings driver in the second quarter--a weaker market may have some implications.

> Here's the CNNMoney.com article.
> And take a look at this article from MarketWatch.