US stock futures point to a lower open Friday after JP Morgan’s (JPM) “London Whale” trader took a $2 billion trading loss on a massive position in credit default swaps. JPM is down more than 7% this morning. In a surprise conference call after the close yesterday, JPM CEO Jamie Dimon revealed the huge loss, also adding that it could deepen this quarter and beyond. He called the losses “egregious…
View the full post at http://blog.t3live.com