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It’s official: Wall Street topped $100 billion in profit

S.China Morning Post Thursday, 17 January 2019
The six biggest US banks have never had a $100 billion year. Until now. Goldman Sachs Group Inc., JPMorgan Chase & Co. and their peers have already reported more than $111 billion of profit for 2018. Morgan Stanley will only make that number bigger when it releases its fourth-quarter results Thursday. They have Republican tax cuts to thank, along with rising interest rates, a surge in deal making and a retail-banking boom. JPMorgan and Bank of America Corp. both had record years, while...
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News video: Wall Street Is At A Four-week High

▶ Wall Street Is At A Four-week High 00:37

According to Reuters, Bank shares drove Wall Street’s main indexes to a one-month high on Wednesday after strong earnings from Bank of America and Goldman Sachs, with a multi-billion dollar deal in the fintech sector also helping a risk-on sentiment. Goldman Sachs Group Inc (GS.N) climbed 7.3...

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