U.S. banks reporting their first profits under Donald Trump’s presidency are showing a split: Wall Street businesses are faring far better than some of those serving Main Street.
The nation’s two biggest trading firms -- JPMorgan Chase & Co. and Citigroup Inc. -- posted surprisingly strong revenue Thursday from buying and selling securities in the first quarter, when political turmoil prompted clients to adjust holdings. Wells Fargo & Co., which focuses on more traditional banking to consumers and businesses, reported sluggish results and said total loans fell from the end of last year.
