We’ve got some good news and some bad news on the economy today.

The good:

JPMorgan Chase reported a profit of $2.1 billion in the latest quarter, or 40 cents a share. That’s down from $2.37 billion, or 67 cents a share, from the same period a year ago, but today’s numbers far surpassed expectations. Investors are hoping this could be a sign that the worst is over. U.S. stock index futures pointed to a higher open on Thursday after the JPMorgan news, and the technology sector showed positive signs.

And initial jobless claims — number of people filing for unemployment for the first time — were 610,000 in the week ending April 11, according to the Labor Department; the prior week’s numbers were at 663,000. But insured unemployment rose to the highest level in 26 years — a sign, Bloomberg says, that companies are still hesitant to hire workers. 

The bad:

U.S. home foreclosures spiked 46 percent since this time last year, boosting the first quarter’s figure up 24 percent. This is in part due to the fact that lenders like FannieMae and FreddieMac lifted a temporary moratorium on foreclosures. Nevada, Arizona and California had the highest rates. Those states, combined with Illinois and Florida, accounted for nearly 60 percent of total foreclosures for this quarter.

Home building permits dropped 10.8 percent to a record low in March, as homebuilders tried to rein in inventory amid rising foreclosures. That could mean the housing market is far from stabilizing.

Chicago-based General Growth Properties Inc., the second-largest U.S. mall owner, filed for bankruptcy protection. It’s being called the biggest real estate failure in U.S. history. The company owns valuable big-name malls like Fashion Show in Las Vegas and Faneuil Hall Marketplace in Boston.