Big Banks' Rally Fades as Strong Earnings Fail to Erase Concerns
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Large bank stocks pared earlier gains as investors welcomed lower credit costs and better-than-expected mortgage trends from JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. but continue to worry about future growth and geopolitical risks.
Earlier, JPMorgan CEO Jamie Dimon was bullish on the U.S. and global economy, but flagged “increasing economic and geopolitical uncertainties, which at some point in the future may have negative effects on the economy.”