"A return to the forefront for initial public offerings (IPOs) and a relentless stock market rally, highlighted by a massive run by the Magnificent 7 tech stocks, in tandem with the Gold Mining stocks and Utilities, have led the stock market to print new all-time highs this year for all of the major indices. The initial third-quarter earnings results come from the large-cap money center banks, all of which posted outstanding results."
"Wells Fargo & Company (NYSE: WFC) also topped Q3 2025 earnings estimates with earnings per share of $1.73 and revenue of $21.44 billion, with the stock gaining as the bank raised profitability targets following relief from asset cap restrictions. Citigroup Inc. (NYSE: C) reported net income of $3.8 billion, or $1.86 per diluted share, on revenue of $22.1 billion for the quarter, compared to $3.2 billion, or $1.51 per diluted share, on revenue of $20.2 billion a year earlier."
Initial public offerings (IPOs) returned to prominence while a relentless stock market rally, led by the Magnificent 7 tech stocks together with Gold Mining stocks and Utilities, pushed major indices to all-time highs. Early third-quarter results from large-cap money center banks were uniformly strong. Investment banking activity, renewed IPO issuance, and large trading profits fueled the beats. JPMorgan, Wells Fargo, Citigroup, and Goldman Sachs all exceeded expectations with higher revenues and earnings. JPMorgan benefited from roughly $700 million of trading and investment banking upside. Wells Fargo raised profitability targets after relief from asset cap restrictions, and Goldman reported robust revenues, earnings, and a 14.2% annualized ROE.
Read at 24/7 Wall St.
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