7.14.20 - JPMorgan’s record trading helps ease the pandemic’s toll
'“We are prepared for all eventualities as our fortress balance sheet allows us to remain a port in the storm,” Chief Executive Officer Jamie Dimon said in a statement. “This is why we can continue to serve all of our stakeholders and to pay our dividend—unless the economic situation deteriorates materially and significantly.”'
'JPMorgan was the only major Wall Street bank that didn’t suffer a loss during the financial crisis, and the second-quarter results offer a hint at what’s to come when the rest of the largest U.S. lenders report this week. The four biggest U.S. banks’ combined earnings are expected to have fallen to the lowest in more than a decade in the second quarter, according to analyst estimates compiled by Bloomberg before Tuesday’s results.'