Wall Street’s biggest banks raked in nearly $32 billion in quarterly profits Tuesday, even as inflation, elevated borrowing costs and mounting economic uncertainty continued squeezing American households. JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo reported a combined $31.75 billion in third-quarter profits, fueled by strong stock trading and lending operations. The massive haul highlighted a contrast between Wall Street’s financial…
Major Wall Street banks reported higher profits on Tuesday than a year ago, supported by consumers who continued to pay their bills and companies that maintained strong investments in artificial intelligence.