Do JPMorgan’s gains signal cross-market stability?

JPMorgan Chase has far exceeded third-quarter expectations today, showing $3.6 billion in earnings. The question now is whether these figures indicate a recovery for banks across the board or whether the progress is specific to JPMorgan. Ed Najarian, a senior managing director covering the banking sector at International Strategy & Investment, told CNBC that he believes JPMorgan is healthier and stronger than many other credit-based financial groups, which are still grappling with their loan losses. “JPMorgan stands apart in its capacity to absorb that credit loss and still report fairly strong earnings,” Najarian said. “[It’s] definitely the leader of the pack in terms of the big, credit-based financials.”