J.P. Morgan Chase & Co (NYSE:JPM) was the first major financial stock to report earnings this morning. The earnings were below analysts expectations and the stock is trading lower by $1.00 to $35.85 a share. The poor results by JPM are causing early declines in many of the other leading financial stocks such as Goldman Sachs Group Inc (NYSE:GS), Morgan Stanley (NYSE:MS), and Citigroup Inc (NYSE:C). These stocks are simply trading lower in sympathy to JPM.
Less