I just installed Photoshop CC 2014.2.2. from the Creative Cloud so all settings are still default, etc.
However when I try to open a .jpeg, there is no image that shows up in the workspace. It is just a blank workspace, even though the file shows up as "Background" to the right of the workspace.
I have tried both "Open With Photoshop" when clicking on the .jpeg, as well as having Photoshop already open and then choosing File -> Open and browsing to the file and opening it.
I would suspect that you may need to update you display's adapters device driver if Photoshop apears to be working but not displaying your image's layers correctly.