Who needs consumer demand to make money?
David Kelly, chief global strategist with JP Morgan Funds, explains what's got corporate profits up in a weak economy.
Bank of America said this morning that its profit quadrupled last quarter compared with a year ago, though that was below expectations. Toymaker Mattel also reported a quadrupling of profit last quarter, helped in part by cost cutting.
David Kelly, chief global strategist with JP Morgan Funds, joins Marketplace Morning Report host Jeremy Hobson to explain what's got profits up.