BlackRock’s adjusted earnings jumped 25 percent to $1.4 billion, earnings per share were $9.28, exceeding average expectations of $8.5 per share, and the value of assets managed by the fund rose 11 percent to $9.4 trillion.
JPMorgan Chase Bank also announced a jump in second-quarter profits, supported by higher income related to higher interest rates, as profits amounted to $14.5 billion, an increase of 67 percent over the previous period, and revenues increased by 34 percent to reach $41.3 billion, which came higher. From expectations, earnings per share were $4.75.
Wells Fargo Bank was able to overcome market expectations, as the bank achieved revenues of $20.53 billion, which came higher than expectations of $20.12 billion, and earnings per share were higher than market expectations, as the share achieved $1.25 profit, compared to expectations of $1.16.
Market movements
The Dow Jones Industrial Average rose 156.93 points, or 0.46 percent, to 34,552.51 points, by 14:25 GMT.
The Standard & Poor’s 500 Index rose by 13.88 points, or 0.29 percent, to 4,523.18 points, and the Nasdaq Composite Index rose 78.30 points, or 0.56 percent, to 14,217.31 points.
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