, Columnist
Investors: It's OK to Love Banks Again
Their businesses are sturdy and the outlook is brightening.
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It only took a decade but it's officially OK to fall for U.S. banks again.
Consumers feel good. Business leaders feel good. And interest rates are finally not zero -- in fact, they may get an extra lift from President-elect Donald Trump, should his policies boost economic growth as everyone seems to be expecting. The impact was tangible in fourth-quarter results released Friday by JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co., validating the industry's post-presidential election rally that some thought might have gotten ahead of itself. Shares of all three banks climbed further, with JPMorgan hitting a new intraday high.