Bank Earnings Look Strong, But Markets Shrug
A facts-only brief, written by a local AI model from this article in The Wall Street Journal, October 13, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.
JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo reported strong second-quarter earnings on Tuesday, with revenue and profits rising due to a 39% average increase in equities trading. However, higher yields reduced bond and currency trading volumes, and investment-banking fees declined from the previous quarter. Goldman Sachs shares ended the day down 0.2%, while Citigroup fell 5.6% and the other two banks also closed lower.
Background
- Existing U.S. home sales increased in September for the first time since May, a rise attributed to purchases agreed upon in July and August when mortgage rates were lower.
- Mortgage rates reached 7.4% last week, marking their highest level in nearly three years as benchmark yields climbed.
- Micron Technology and SK Hynix shares dropped after the president of China’s CXMT stated the company is making rapid progress on cutting-edge chips.
- The S&P 500 remained little changed, while the Nasdaq and Dow Jones Industrial Average fell 0.2% and 0.4%, respectively.
Read the full article at wsj.com
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