Wall St. Expected to Post Poor Results

Big banks have thrived while the rest of the economy has stalled, but even they’ve been struggling recently: JPMorgan Chase’s sales and revenues dropped almost 20 percent in the second quarter, and other big banks, including Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley, are expected to post similar results. Core trading revenue will drop as much as 25 percent from the first quarter, and the banks are considering another round of layoffs.