Some of Wall Street’s biggest banks reported a surge in profit today on the back of a rebound in dealmaking and strengthening equity markets toward the end of last year. JPMorgan Chase, the US’s biggest lender,

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Citi CEO Jane Fraser's has made major moves ... 2024-12-19T12:08:18Z Stocks tanked after the Fed signaled fewer rate cuts next year. Here's what Wall Street analysts see ahead.

Citigroup cut its closely watched profitability target in 2026 as it tackles rising regulatory expenses and, at the same time, announced a $20 billion share buyback program.

This is a good time to be a trader. Revenue from big Wall Street desks dealing in stocks, bonds and other instruments surged in the fourth quarter from a year ago. [Trading revenue at Citigroup](

Citigroup said on Friday it was expecting a rally in global equities to extend into 2025, as falling interest rates and easing inflation could help prop up corporate earnings.

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Shares rose 3.6% in premarket trading. Citi, one of the nation’s largest banks, has been pursuing a turnaround strategy under CEO Jane Fraser, who has sold off some business and reorganized the company around five core business units.

Wall Street banks JPMorgan Chase, Goldman Sachs and Citigroup notched up strong rises in profits at the end of last year, powered by a boom in trading and dealmaking. JPMorgan’s net earnings rose 50 per cent per cent to $14bn,

The biggest banks in the U.S. are expected to report this week that they drove far higher profits in the fourth quarter than they did a year ago, thanks to solid consumer spending, higher stock prices and trading activity,

All four banks rose on Wall Street. At mid-morning, JPMorgan was up 0.8 percent, Goldman Sachs 5.9 percent, Citi 6.2 percent and Wells Fargo 5.2 percent.

Some of Wall Street’s biggest banks reported a surge ... stronger performance in our businesses,” said Jane Fraser, Citi’s chief executive, in a statement. “Our net income was up nearly ...