[1/3] Signs of JP Morgan Chase Bank, Citibank and Wells Fargo & Co. bank are seen in this combination photo from Reuters files.
The S&P 500 Banks Index (.SPXBK) rose 1.14%, while the KBW Regional Banking Index (.KRX) gained about 2%.
JPMorgan Chase (JPM.N), Wells Fargo (WFC.N), Goldman Sachs (GS.N), Morgan Stanley (MS.N), Citigroup (C.N) and Bank of America (BAC.N) advanced between 1% and 2%.
Higher net interest income has helped cushion a slump in the banking sector's market-sensitive business units such as investment banking and trading.
Zions Bancorporation (ZION.O) shares fell 0.56% after its executives forecasted a slowdown in net interest income.
Persons:
JP Morgan, Wells, Mike Santomassimo, Jack Janasiewicz, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Zions, Manya Saini, Sriraj Kalluvila, Lisa Shumaker
Organizations:
JP Morgan Chase Bank, Citibank, Wells Fargo & Co, Federal Reserve, Labor Department, Traders, Natixis Investment, Banks, JPMorgan, Citigroup, Bank of America, Comerica Inc, Comerica, Bancorp, Western Alliance, U.S . Bancorp, National Bancorp, Thomson
Locations:
U.S, Wells, KBW, Monday's, Wells Fargo, Bengaluru