JPMorgan and Citi Post Strong Profits

JPMorgan Chase posted a 13 percent jump in profit, reaching $16.5 billion, as volatile markets fueled a record trading haul.

Citigroup also saw its highest quarterly revenue in a decade, signaling that CEO Jane Fraser's turnaround plan is gaining significant traction.

However, JPMorgan CEO Jamie Dimon struck a cautious tone, noting that persistent inflation and large fiscal deficits could still derail the current economic resilience.

Investors are closely monitoring these results for signs of how the banking sector is managing exposure to the private credit market and the broader geopolitical instability.