The largest US banks, including Bank of America, JPMorgan Chase, and Wells Fargo, have reported accelerating recovery and surging profits compared to 1Q 2020, following a year of coronavirus pandemic-induced lockdowns.
Several US stock market indices have soared after several major American banks reported profit gains in the first quarter.
The Dow Jones Industrial Average was up 0.07 percent reaching 34,058.16 at the open. The S&P 500 gained 0.09 percent, rising to 4,174.14, while the Nasdaq Composite climbed 0.14 percent to 14,059.11.
US banking giants have posted increased profits in the first quarter with JPMorgan, Citi, Goldman Sachs, Bank of America, and Wells Fargo announcing a total of $42 bln earned over the reported period.
Federal Reserve Chairman Jerome Powell said Wednesday that the US economy was growing faster and creating more jobs than ever since the onset of the coronavirus pandemic, although its record national debt would be unsustainable in the long run.
Sourse: sputniknews.com
0.00 (0%) 0 votes
MOSCOW (Sputnik) - The Coalition for the Restoration of Democracy (CORED), which unites 18 opposition parties in Guinea, said on…
The news of an interplanetary scale comes after NASA believed it had captured its first sample with Perseverance last month,…
MOSCOW (Sputnik) - The last pipe of the second string of Nord Stream 2 has been welded, and after a…
LONDON (Sputnik) – The UK government on Monday condemned the military coup against the president of Guinea, Alpha Conde, and…