JP Morgan, Bank of America Beat Q2 Estimates as Investment Banking Fees Surge 30%

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According to Korea Economic TV, JP Morgan, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs reported second-quarter earnings that beat expectations on July 13. Investment banking fees across major U.S. banks surged 30% year-over-year, driven by a resurgence in mergers and acquisitions as companies resumed capital-raising activities. JPMorgan CEO Jamie Dimon noted that the global economy has demonstrated stronger resilience than anticipated. U.S. consumer spending data remained robust, supporting the stronger-than-expected results.
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