Market Updates: JPM, C, BAC, WFC, GS, MS, VZ, T

JPMorgan Chase (NYSE:JPM) reported Friday that it earned more than analysts expected in the fourth quarter, but its credit costs remained high and it set aside nearly $2 billion to cover consumer-loan losses as one in 10 American workers remained unemployed. The New York-based bank (JPM) earned $3.3 billion, or 74 cents a share, more than four times the $702 million, or 6 cents, of the year-earlier quarter. Revenue in the fourth quarter was $23.16 billion versus $17.23 billion. Citigroup (NYSE: C) , Bank of America (NYSE: BAC) , Wells Fargo (NYSE:WFC) , Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS) all fell in pre-open trade. - MarketWatch JPMorgan Chase &…