JPMorgan, Wells Fargo, Bank of America and Citi beat earnings forecasts, but concerns about ‘headwinds’ linger
JPMorgan Chase & Co., Bank of America Corp., and Citigroup Inc. and Wells Fargo & Co. managed to beat Wall Street’s lower expectations for fourth-quarter earnings as higher interest rates boosted income from loans. Banks posted stronger-than-expected results despite a slowdown in overall transaction activity such as mortgage loans and initial public offerings. But JPMorgan …