JPMorgan (JPM) Earnings Raises Questions

JPMorgan (NYSE: JPM) reported better than expected earnings; however, it registered higher loan loss reserves. Its shares slid down after the earnings announcement.

According to the CNBC, JPMorgan’s earnings show a different story if dug down deeper. CNBC’s Karen Finerman said that the JPMorgan’s earnings report does not bode well for the financial sector. She said that the chargeoffs and credit delinquencies are likely to be big problems for the financials. Major players such as Capital One (NYSE: COF) and Bank of America (NYSE: BOA) saw an increase in chargeoff rates in December. Bank of America is scheduled to report its earnings later this week.