Both JPMorgan and Wells Fargo fell in premarket trading on Wall Street after releasing their quarterly reports. The banks were the first to publish their reports on Tuesday afternoon.
JPMorgan, down about 3 percent, reported weaker core revenue and lower profits in the third quarter. The biggest surprise, however, was a decline in income from fixed-income securities, the bank’s first in two years.
Wells Fargo also reported worse-than-expected figures and fell slightly in premarket trading. Goldman Sachs went against the trend, rising around 3 percent as its earnings beat expectations.
