"These institutions are experiencing a golden spring in their businesses. Between Tuesday and Wednesday, Wall Street's biggest banks reported their financial results. These institutions have boosted their profits, exceeding all analysts' forecasts. The sector is experiencing a golden age, thanks largely to the exuberance of the stock market and the boom in corporate dealmaking, despite the uncertainty about the U.S. economy."
"JPMorgan, the largest U.S. bank by asset size, reported a third-quarter profit of $14.39 billion, up 12% from a year earlier. CEO Jamie Dimon's bank grew its earnings to $47.1 billion, a 9% increase. Dimon, however, issued a message of caution amid growing uncertainty over geopolitical tensions, tariff pressures, and the risk of inflation spiking again as the U.S. labor market begins to show signs of slowing."
"Goldman Sachs is also headed for a record year. The investment bank announced that it is on track to achieve the best year ever for its core division, investment banking, thanks to the strength of the equity markets. Goldman reported earnings of $15.18 billion, a 20% increase over the previous year. This strong performance included a 42% rise in investment banking revenues to $2.66 billion."
Major Wall Street banks including JP Morgan, Goldman Sachs, Citigroup, Morgan Stanley, Wells Fargo, and BlackRock reported profits that exceeded analysts' forecasts, driven by strong equity markets and robust corporate dealmaking. Global transaction value surpassed $1 trillion in the third quarter for the second time on record. Record-high stock markets boosted equity trading volumes and increased borrowing by funds to purchase more securities. JPMorgan posted a third-quarter profit of $14.39 billion and grew earnings to $47.1 billion. Goldman reported $15.18 billion in earnings and a 42% rise in investment banking revenues to $2.66 billion, while announcing staff cuts and cautioning on risks.
Read at english.elpais.com
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