1. Business

    Wall St. Expected to Post Poor Results

    A man walks by the New York Stock Exchange on June 23, 2011 in New York City. After falling over 200 points earlier in the day, stocks got a late reprieve with the Dow Jones industrial average down only 59 points, or 0.5% at the closing bell.

    Spencer Platt / Getty Images

    Big banks have thrived while the rest of the economy has stalled, but even they’ve been struggling recently: JPMorgan Chase’s sales and revenues dropped almost 20 percent in the second quarter, and other big banks, including Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley, are expected to post similar results. Core trading revenue will drop as much as 25 percent from the first quarter, and the banks are considering another round of layoffs.

    Read it at The New York Times