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The Boston Globe

Business

JPMorgan Chase launches a stock market rally

JPMorgan Chase blew away clouds over the banking industry Friday and set off a stock rally, ending a six-day losing streak. It earned $5 billion last quarter, even as it took a deeper loss from a trade that went wrong. The surge erased the week’s losses for the main indexes. The market had taken a beating as earnings season got off to a weak start.