On Friday, U.S. bank stocks rose significantly. Notably, Bank of America (BAC) increased by 4.9%, JPMorgan Chase (JPM, Financial) climbed over 4%, Citigroup (C) rose more than 3.5%, and Goldman Sachs (GS) went up by 2.5%.
JPMorgan's third-quarter results fueled this uptick, with revenue reaching $42.65 billion, a 7.0% increase, surpassing market expectations. Additionally, the bank reported earnings per share of $4.37, exceeding forecasts. A key highlight from JPMorgan's report was the unexpected growth in net interest income, leading the bank to raise its forecast for this primary revenue source, despite expectations that U.S. interest rates would continue to decline.
