“The U.S. and the global economy continue to show strength, despite increasing economic and geopolitical uncertainties, which at some point in the future may have negative effects on the economy,” said Dimon.
Shares of Wells Fargo gained 1.4% as the bank reported third-quarter profits of $1.16 a share, which was a few cents below estimates. Citigroup’s EPS for the third quarter came in at $1.73, which bested expectations by 5 cents as its stock gained 1.6% in the early session.
Treasury Yields Tick Higher
Treasury yields, which have caused investor worry as of late, ticked higher in addition to U.S. equities. The benchmark 10-year Treasury note and 30-year note resumed their upward trajectory–the 10-year yield went to 3.163, while the 30-year rose to 3.336.
Shorter duration bond yields also went higher with the three-month note ticking up to 2.271, the two-year to 2.857 and the five-year to 3.017.
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