Dossier
KBW Nasdaq Bank Index
Coverage of KBW Nasdaq Bank Index in the Nexus archive.
- Banks rake in big profits as both Wall Street and the US consumer stay strong
Five major U.S. banks reported record profits driven by strong trading performance and resilient consumer spending. JPMorgan Chase, the largest bank by asset size, earned $16.9 billion in Q2 with 35% revenue growth in its markets division. Elevated oil prices from the Iran conflict and robust consumer activity contributed to gains despite global economic uncertainty.