Markets

Booming Bank Profits Add Another Layer to Wall Street Rally

Earnings from big banks show ’strong fundamental results,' says one market analyst.
Booming Bank Profits Add Another Layer to Wall Street Rally
A Bank of America branch in New York City on Jan. 10, 2017. Stephanie Keith /Reuters
Andrew Moran
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Big banks are reporting big profits in the thick of the third-quarter earnings season, adding another layer to the record Wall Street rally.

Bank of America topped market expectations on Oct. 15, reporting a 23 percent year-over-year increase in profits to $8.5 billion, or $1.06 a share.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."