U.S. banks boost indices with record Q2 profits

Major U.S. banks reported robust second-quarter profits on Tuesday, July 14, 2026, exceeding analyst expectations and signaling resilience in the face of persistent inflation and geopolitical tensions. The strong results from JPMorgan Chase, Goldman Sachs, Bank of America, and Citigroup helped lift broader stock indices as they unofficially kicked off the quarterly earnings season.

JPMorgan Chase led the group with a profit of $21 billion, a figure boosted by a $4.6 billion gain from its stake in Visa and strong investment banking activity driven by mergers, acquisitions, and financing for artificial intelligence projects. Goldman Sachs earned $6.6 billion, while Bank of America posted $9 billion on strong trading and investment banking results. Wells Fargo reported over $6 billion in profit as consumer and business lending increased. Bank executives cited relatively low loan delinquencies and expectations that interest rates will remain elevated as factors supporting profitability.

The positive bank earnings coincided with encouraging inflation data. The June Consumer Price Index came in below forecasts, reigniting investor optimism that price pressures are moving back toward...