by Bill McBride on 7/13/2012 08:46:00 AM
Friday, July 13, 2012
From MarketWatch: U.S. wholesale prices rise 0.1% in June
U.S. wholesale prices rose a seasonally adjusted 0.1% in June as higher costs for food, light trucks and appliances offset another decline in energy costs, the Labor Department said Friday. Excluding the volatile categories of food and energy, core wholesale prices rose a slightly faster 0.2%.Press release from JPMorgan: JPMORGAN CHASE REPORTS SECOND-QUARTER 2012 NET INCOME OF $5.0 BILLION, OR $1.21 PER SHARE, ON REVENUE OF $22.9 BILLION
Over the past year wholesale prices have risen an unadjusted 0.7%.
"$4.4 billion pretax loss ($0.69 per share after-tax reduction in earnings) from CIO trading losses and $1.0 billion pretax benefit ($0.16 per share after-tax increase in earnings) from securities gains in CIO’s investment securities portfolio in Corporate"
Much more at FT/alphaville: US Markets Live, Jamie beaches the Whale special edition and 'CIO Risk Management was ineffective in dealing with Synthetic Credit Portfolio’
Posted by Bill McBride on 7/13/2012 08:46:00 AM