Despite profits tumbling 51 percent and the largest loan-loss provision in its history, JPMorgan Chase — the United States' largest bank — actually beat expectations for its second quarter earnings report amid the coronavirus pandemic. That's thanks to record trading revenue, which jumped 15 percent, highlighting Wall Street's rapid recovery from the economic crisis.

For context, the bank's fixed-income traders — those focusing on bonds, money markets, and other debt securities — generated enough revenue to set the record on their own, even if the equities group was stagnant.

The 99-percent rise in fixed-income revenue likely has a lot do with policy set by the Federal Reserve earlier this year.

Still, CEO Jamie Dimon was cautious in a press release, noting "we still face much uncertainty regarding the future path of the economy." The record $10.5 billion loan-loss provision, while countered by the trading revenue boom, shows the bank is preparing for the worst.

In other banking news, fixed-income trading revenue similarly helped Citigroup beat expectations, but Wells Fargo, which has a smaller investment-banking presence than JPMorgan and Citi, was unable to generate the same earnings, leading to a historically rough quarter. Tim O'Donnell

Melania Trump has a cough.

That's the reason the first lady won't make her first post-coronavirus appearance Tuesday night, Melania's chief of staff Stephanie Grisham said Tuesday. Melania was supposed to rejoin President Trump on the campaign trail in Erie, Pennsylvania, but to be cautious, she'll stay home until she recovers fully.

The president and first lady tested positive for COVID-19 about three weeks ago. Trump was hospitalized for three days, while Melania stayed at the White House and recovered from her light symptoms there, the White House said. Trump returned to the campaign trail less than two weeks after he first reported having a positive COVID-19 test. The White House has refused to reveal the last time Trump and the first lady tested negative for the virus before their positive results. Kathryn Krawczyk

Hello, Democrats.

Seinfeld stars Julia Louis-Dreyfus and Jason Alexander and creator Larry David are set to reunite for a virtual event on Friday to fundraise for Texas Democrats, according to The Hollywood Reporter. The event has been dubbed "A Fundraiser About Something," and fans can watch a live stream after donating any amount of money to the Texas Democratic Party. It will be hosted by Late Night's Seth Meyers and feature "exclusive behind-the-scenes stories" from the show; the announcement also teased some "special guests."

"Texas is a battleground state, period," Louis-Dreyfus, Alexander, and David said in a statement. "We knew that we had to reunite for something special and the movement on the ground for Texas Democrats up and down the ballot is the perfect opportunity to do just that."

This will be the latest star-studded Democratic fundraiser to take place in recent weeks. Louis-Dreyfus herself previously participated in a Veep reunion for Wisconsin Democrats, and on Monday, a Happy Days reunion that will also support Wisconsin Democrats was announced. Outside of TV, the cast of Hamilton recently reunited in a fundraiser for Democratic presidential nominee Joe Biden, and Avengers stars like Chris Evans and Scarlett Johansson on Tuesday are set for a Biden fundraiser that they're calling "Voters Assemble."

The Seinfeld reunion also comes after Wayne Knight, who played postal worker Newman on the show, reprised the role in an ad encouraging viewers to vote while blasting President Trump's "systematic, premeditated assault on the U.S. mail." Brendan Morrow

Utah's candidates for governor just made history in a very unexpected way.

While Democrat Chris Peterson and Republican Spencer Cox would both like to win the gubernatorial election in just two weeks, they'd also like Utahns to accept the results of the presidential race no matter the outcome. So they banded together for an ad released Tuesday encouraging just that.

In what could be the first time two opposing candidates appeared in one ad so close to the election, Cox acknowledged the candidates are in the "final days of campaigning against each other." "But our common values transcend our political differences," Peterson added, namely their belief that "whether you vote by mail or in person, we will both fully support the results of the upcoming presidential election regardless of the outcome."

"We are both committed to American civility and a peaceful transition of power," Cox added, and Peterson then encouraged Utah to "be an example to the nation."

Cox and Peterson's ad comes as President Trump has repeatedly refused to confirm he'll accept the results of the election if he loses to Democratic nominee Joe Biden. Kathryn Krawczyk

Kanye West has dropped an additional $3 million on his doomed presidential bid — and he raised, well, not quite as much.

The rapper's September FEC report showed that he spent another $3 million of his own money on the campaign, and he raised a grand total of $2,782, per reporter Ben Jacobs. Thus far, West has spent nearly $10 million on his campaign.

West announced over the summer he'd be jumping into the 2020 race as a "Birthday Party" candidate, despite it being too late at that point to actually get on the ballot in every state. He recently got around to debuting his very first campaign ad just weeks ahead of Election Day, in which he speaks in front of an American flag with stock footage in between and asks for write-in votes. According to the FEC filing, West apparently paid a production company more than $200,000 for that video, Jacobs reports.

On the off chance that West somehow doesn't defeat President Trump and former Vice President Joe Biden in two weeks, he has suggested he'll run again in 2024, so in four years, this select group of donors can look forward to opening up their pockets and attending his Birthday Party all over again. Brendan Morrow

North Carolina could be in for a blue wave.

A Washington Post/ABC News poll released Tuesday showed Democratic nominee Joe Biden and President Trump with a statistical tie in the state that's gone red in the past two presidential elections. Also on Tuesday, Sabato's Crystal Ball slid Iowa's Senate race into Democratic territory, leaving North Carolina the only tossup on the map.

In a poll of 646 North Carolina likely voters taken Oct. 12-17, Biden received 49 percent support to Trump's 48 percent, the Post and ABC News found. The poll's 4.5 percent margin of error prevents either candidate from having a distinct advantage, though it mirrors several other polls taken over the past month that all put Biden slightly ahead. The Post/ABC News poll also showed Democrat Cal Cunningham at 49 percent support to Sen. Thom Tillis' (R-N.C.) 47 percent.

Sabato's Crystal Ball, which projects race outcomes across the country, meanwhile made a big change in its Senate projection on Tuesday. It suggested Sen. Joni Ernst's (R-Iowa) seat would likely go to Democrat Theresa Greenfield, predicting a gain of four seats for Democrats and a loss of one in Alabama. That leaves North Carolina the only tossup on the map, and a critical race if Democrats want a Senate majority. If Sabato's projection pans out, Democrats would nab 50 seats, with North Carolina remaining the difference between a tie and blue advantage. Kathryn Krawczyk

The Department of Justice is reportedly about to file a lawsuit accusing Google of violating antitrust law.

The DOJ in a lawsuit that will be filed on Tuesday will accuse Google of "illegally maintaining its monopoly over search through several exclusive business contracts and agreements that lock out competition," The New York Times reports. The news was confirmed by several other outlets including Bloomberg, which described the lawsuit as the "most significant monopoly case to be filed in the U.S. in decades."

Google's parent company, Alphabet, had been a subject of an antitrust investigation that the Justice Department opened in 2019 examining its search and advertising practices, and last month, reports suggested charges were close to being announced. Tuesday's lawsuit, The Washington Post wrote, "marks the start, not the end," of the Justice Department's case against Google, as "it could take years for a federal court to resolve" it.

The Times previously reported that the DOJ during the course of its investigation had "amassed powerful evidence of anticompetitive practices" on the part of Google, but also that Attorney General William Barr was pushing a September deadline on DOJ officials and had "overruled career lawyers who said they needed more time to build a strong case." Brendan Morrow