Blockbuster earnings by America’s biggest banks tempered fears that the economy is headed for a slowdown, pushing stocks mostly higher Wednesday.
The country’s six largest banks raked in almost $41 billion in the past three months, up 19% from a year ago, thanks in part to booming business in dealmaking and trading. Morgan Stanley shares jumped 4.7% after better-than-expected results, while Bank of America similarly vaulted 4.4% higher.
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