JPMorgan Chase, Wells Fargo Post Strong Q2 Earnings

JPMorgan Chase & Co. (NYSE:JPM) and Wells Fargo & Company (NYSE:WFC) posted healthy second-quarter profit on the back of the U.S. economy’s recovery. JPMorgan’s investment banking business shines JPMorgan’s second quarter earnings rose 31 percent aided by strong growth seen at its investment banking business, coupled with reduction in reserves for loan losses. The top U.S. bank’s investment banking arm posted a profit of $2.84 billion, a growth of 19 percent over a year ago and about 9 percent from the previous quarter. JPMorgan Chase & Co. (NYSE:JPM)’s second-quarter results got a boost from a release of $1.5 billion in loan loss…