Here are five key takeaways:
(Oct 17): As earnings season for the biggest US banks wrapped up on Tuesday, the benefits to Wall Street of rising interest rates and a healthy economy became clear.
Major US lenders including JPMorgan Chase & Co, Morgan Stanley and Bank of America Corp reported increases in net interest income, even as trading businesses saw more mixed results. And while rate hikes can result in consumer defaults, Wells Fargo & Co and Citigroup Inc said their costs for bad loans are actually falling – one benefit of a strong economy. Still, executives pointed to trade conflicts and other political uncertainties that could cause trouble down the road.
