Three major banks, JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C), reported third-quarter results showing US consumers and businesses remained resilient despite higher rates, with spending and lending up from a year earlier and loan losses largely contained. JPMorgan's average credit card loans rose 7%, and its card charge-off rate fell to 2.91% from 3.15%. Citigroup said US card spending rose 11%, with charge-offs improving to 3.6% from 4.0%. Wells Fargo CEO Charlie Scharf said consumers are spending more and delinquencies are low, while JPMorgan CEO Jamie Dimon was more cautious, warning that another percentage-point rate rise could be particularly painful as borrowers refinance at higher costs. Citi and Wells Fargo both increased loan-loss provisions from a year earlier, while JPMorgan's rose from the previous quarter.
Summary written by Upside AI from the original article. Read the source for full details.
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Related tickers and likely impact
JPM
▲ Likely positiveJPMorgan Chase
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $885.1B |
| Close on 10/12/2026 | 334.30 |
| Change that session | +0.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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