U.S. Morning Call: Stock futures up; JPMorgan's bad trades
Tuesday, June 12, 2012 - 02:24
June 12 - U.S. stock futures are pointing to a higher open on Wall Street, and the WSJ reports JPMorgan directors knew of bad trades that cost the bank at least $2 billion.
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-- -- early morning futures higher and well lower here's your morning call this Tuesday directors and executives at JPMorgan. Reportedly knew about the risky practices by London traders two years ago those traders have since caught the bank at least two billion dollars. The Wall Street Journal says some directors were briefed on the for an exchange options -- that soured. And we're told that the response rate it would not be allowed to go -- report in the future. JPMorgan CEO Jamie diamond set to testify before congress on the trading loss Wednesday. Chicago fed president Charles Evans becoming the latest member of the US Central Bank to expressed concerns about Europe and the troubles there is spilling over here. It is speech Monday evening he said of additional quick nation is needed among central banks authorities would talk about. No worries on this stock exchange this morning Dow NASDAQ S&P 500 futures now firmly in positive territory. That's survey shows is housing not Europe that is striking out of finances and Americans. The report revealing the media at least net worth falling closed up 40%. Between 2007. And 2010. As home values tumbled. The network of about 77000. Dollars in 2010. At levels last seen in 1992 news. On the plus side Americans reduce their credit card debt that the percentage of an overall has risen as housing prices have fallen. US commerce secretary John Bryson taking medical leave Bryson is under investigation for his role in an alleged hit and run accident and another car crash over the weekend. His aides say he suffered an apparent seizure while driving near his Los Angeles area home. Price was hospitalized in California return to Washington on Monday while police continue their investigation. Finally one stock to watch today Michael cores. The apparel designer and retailer reporting a 36%. Lee and courtly same store sales. And raising its profit and sales got in sports this school year. That's your morning called this Tuesday you can follow us on Twitter. At Reuters Insider and please check out our writers YouTube TV channel Reuters dot com back slash Reuters TV. I'm Rhonda schaffler is this Reuters Insider.
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