Earnings: Banks bracing for pain

August and September's see-sawing stock market may have induced nausea among investors, but for Wall Street's major investment banks, this volatility has most likely taken a huge toll on profits.

As banks' third quarter earnings season kicks off Thursday with JPMorgan Chase (JPM, Fortune 500), investors are bracing to see how much damage was wrought by the expected steep drop in investment banking and trading revenue.

Those businesses have slowed considerably as the market volatility has caused merger and acquisition activity, initial public offerings and corporate debt deals to skid to a near standstill.

Read Full Article from CNN

- Posted: 2011-10-12 10:55:03

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