It isn't just the earnings number that J.P. Morgan Chase JPM +0.18% reports that matters. It is how the bank gets there. All eyes will be on J.P. Morgan when it announces second-quarter results Friday and, crucially, provides a fuller account of the trading loss that has engulfed the bank. The first question will be just how big a loss will be left in the wake of a trader who became known as the "London Whale." Markets expect about $4 billion to $5 billion. The next is what levers J.P. Morgan might pull to offset the loss and what that says about the quality of its earnings.
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