US banks: JPM and Wells Fargo rise after Q3 results

JPMorgan Chase & Co

Shares of JPMorgan Chase & Co marginally up at 0.9% in choppy premarket trade

Co's profit rose in Q3, fueled by multi-billion dollar deals and IPOs that boosted its investment bank, along with stronger trading performance

Profit at the largest U.S. bank climbed to $14.39 billion, or $5.07 per share, in the three months ended September 30

Investment banking fees at JPMorgan rose 16% in the third quarter

JPM shares were up ~0.5% in final trading session before quarterly report

Up to Monday's close, stock up 28.4% YTD vs ~18% surge in S&P 500 Banks index .SPXBK

Wells Fargo

Wells Fargo shares up 3% in volatile premarket trading

Co's profit rose in the third quarter on higher income from interest payments

The fourth-largest U.S. lender's net income was $5.59 billion, or $1.66 per share, in the three months ended September 30

Fed's September rate cut is expected to boost banks' interest income from the fourth quarter

WFC shares were up ~0.4% in final trading session before quarterly report

Up to Monday's close, stock up 12.36% YTD