Here are the headlines from Tuesday's Bloomberg Market Report.
Lexus has been named the best car brand in America, according to Consumer Reports. In the annual quality rankings report, the Japanese car, a division of Toyota, received the highest score thanks to the rankings of its eight models, all of which Consumer Reports recommends buying.
JP Morgan Chase will cut up to 19,000 jobs through next year in an effort to trim expenses. As many as 15,000 jobs could be lost in the mortgage unit, while the remaining cuts will come from the Community Banking division, excluding home lending.
Federal Reserve Chairman Ben Bernanke says the ongoing government stimulus he spearheaded is supporting the economy's expansion. He made the comments Tuesday on Capitol Hill when he appeared in front of the Senate Banking Committee. Bernanke also pushed back against colleagues who favor curbing the Fed's $85 billion a month bond buying program.