Earnings: JPMorgan Chase & Co

Dow industrial firm: JPMorgan Chase

JPMorgan Chase & Co. reported strong third-quarter earnings as its thriving investment banking business more than offset rising loan losses that the bank warned would continue for the foreseeable future.

JPMorgan, the first of the big banks to report earnings for the July-September period, reported a $3.59 billion profit but also said it roughly doubled the amount of money it set aside for failed home and credit-card loans in the quarter.

The bank's stock rose on the news. Shares rose $1.50, or 3.29 percent, to close at $47.16.

The company said for the second straight quarter that there are some signs of stabilization in delinquencies among consumer loans that are only recently past due.

JPMorgan said its investment bank net income came to $1.92 billion, up $1 billion from a year earlier as fixed-income trading thrived. Overall, JPMorgan generated $28.78 billion in revenue during the quarter, better than the $24.96 billion predicted by analysts.

-- The Associated Press