US Banks: JPMorgan, Wells Fargo rise on higher Q1 profit

JPMorgan & Chase

Shares of the largest U.S. lender JPMorgan & Chase JPM.N rise 2.9% to $233.59 premarket

JPM's Q1 profit rises 9% to $14.6 bln on dealmaking, trading boost

Q1 investment banking fees up 12% to $2.2 bln; equity markets revenue surged 48% to a record $3.8 bln in Q1 - JPM

Up to Thursday's close, stock down 5.26% YTD vs ~12% drop in S&P 500 Banks index .SPXBK

Wells Fargo

Shares of fourth-largest U.S. lender Wells Fargo WFC.N rise 2.28% to $64.55 in premarket

WFC's Q1 profit rises 6% to $4.89 bln on strong performance in its wealth management unit

Co reports a 7% rise in Q1 investment advisory fees and brokerage commissions to $3.17 bln

Up to Thursday's close, WFC had fallen 10% YTD vs ~12% drop in S&P 500 Banks index .SPXBK