JPMorgan expects growth in investment banking and trading businesses in the third quarter.

JPMorgan expects third-quarter trading revenue and investment banking fee income to grow, in sharp contrast to the warning issued by Bank of America on Monday. JPMorgan co-president Doug Petno said Tuesday at a conference hosted by Barclays that trading revenue for the quarter ending September 30 is expected to rise about 15% to 19% year over year. He said the bank's investment banking fee income is also expected to post a similar increase.