Here's What We've Learned From Big Bank Earnings Reports This Week
1. Large banks exceeded third-quarter earnings expectations amid a strong stock market. 2. Bank executives caution against complacency due to geopolitical uncertainties. 3. Investment-banking revenue drove JPMorgan's profit gain despite flat net-interest income. 4. Wells Fargo reported strong customer spending and increased profit margins. 5. Geopolitical tension and inflation risks remain significant concerns for banks.