|JPMorgan Chase & Co. reported quarterly earnings that surpassed analysts’ estimates, sending its shares higher in early Thursday trading. The bank reported an unexpectedly strong 2 percent increase in equity trading, to $1.6 billion, helping to fuel profits of $1.65 a share. Analysts had predicted profits of $1.52 a share. The report was the first indication of how much money major U.S. banks have made from stock and bond trading this year. Bank stocks have risen since the November election on expectations of President Trump’s pro-business policies and Federal Reserve interest rate hikes that could help lift bank profits.
Source: Bloomberg, MarketWatch