JPMorgan posted record profit and is closing in on a $1 trillion market cap

The bank's $21.2 billion second-quarter net income was the highest quarterly profit in U.S. banking history, lifting its market cap to around $919 billion

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JPMorgan $JPM Chase reported second-quarter net income of $21.2 billion on Tuesday, the highest quarterly profit in the history of U.S. banking, as a surge in stock-trading revenue and a $4.6 billion gain on its Visa $V stake drove results across every line of business. The report pushed JPMorgan stock to a record high, lifting the bank's market capitalization to around $919 billion and putting it within reach of becoming the first bank ever valued at $1 trillion, according to Reuters.

Excluding the........

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