US: Major banks report upbeat earnings

The United States' biggest financial institutions have recently reported their earnings to point out to a healthy activity in the sector. JPMorgan's second-quarter revenue rose 6.5% to $28.39 billion boosted by corporate tax cuts and higher interest rates.

“We see good global economic growth, particularly in the U.S., where consumer and business sentiment is high,” JPMorgan's Chief Executive Officer Jamie Dimon told Reuters and the CFO added that they were still hopeful of delivering on 6-7% core loan growth in 2018.

Furthermore, Wells Fargo's Q2 revenue met experts' estimates at $21.6 billion while Citi's fell a little short of the market expectation of $18.67 billion as it came in at $18.47 billion. However, Citi's earnings per share at $1.63 beat the analysts' forecast of $1.57.

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