Click For Photo: http://static1.businessinsider.com/image/59bab38a9803c50d098b4f01-1190-625/what-you-need-to-know-on-wall-street-today.jpg
Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.
JPMorgan Chase released the results from its fourth quarter on Friday, beating analyst earnings expectations on an adjusted basis with $1.76 a share. Wall Street analysts had been expecting $1.69 a share.
Quarter - JPMorgan - Loss - Tax - Law
But in an already wonky quarter, JPMorgan reported an unusual loss not related to the new tax law: Its equities team took a $143 million loss from a single client. JPMorgan confirmed the loss was connected to the South African retailer Steinhoff International, which is embroiled in an accounting scandal.
"It is by far and away the largest loss in that business we've seen since the crisis," CFO Marianne Lake said in an analyst call.
Bank - News - Wells - Fargo - Profit
Elsewhere in bank news, Wells Fargo's profit jumped after a one-time boost from tax reform. And Morgan Stanley just announced its 2018...
Wake Up To Breaking News!
If the Government could just stop...