BREAKINGVIEWS-Wall Street converges on higher risks and rewards

Citigroup Inc.
Bank of America Corp
Wells Fargo & Company
Jpmorgan Chase
Goldman Sachs Group, Inc.

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Bank of America Corp

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Wells Fargo & Company

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Jpmorgan Chase

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Goldman Sachs Group, Inc.

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Stephen Gandel

NEW YORK, July 14 (Reuters Breakingviews) - Profits at the big combined retail and investment banks rose up to 45% in the second quarter. JPMorgan gleaned $29 bln from lines beyond lending, buoyed by the SpaceX IPO and volatile markets. Traditional banking is in the back seat as capital flows to accelerating, dicier areas.

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CONTEXT NEWS

Five of the six largest U.S. banks reported results for the second quarter on July 14.

Earnings at Goldman Sachs rose 78% from a year ago to $6.6 billion in three months to June 30. Citigroup, JPMorgan, Bank of America, and Wells Fargo reported increases of 45%, 40%, 26% and 17%, respectively.


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