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JPMorgan posts record $21.2 billion profit
JPMorgan Chase posted a record quarterly profit of $21.2 billion, supported by surging equity trading, stronger investment-banking fees and continued strength across its operations.
Equity-trading revenue jumped 86%, while investment-banking fees rose as mergers, acquisitions, IPO activity and corporate financing recovered. The results suggest that Wall Street’s largest firms are benefiting from active markets and stronger deal flow.
Not every financial company will benefit equally. Some groups are positioned to capture more fees, while others remain exposed to deposit costs, credit losses…
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