US banks: JPM down, Wells Fargo rises after Q3 results

JPMorgan Chase & Co JPM.N

Shares of JPMorgan Chase & Co marginally down in premarket trading after results

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

"While there have been some signs of a softening, particularly in job growth, the U.S. economy generally remained resilient," CEO Jamie Dimon said

JPM shares were up ~0.5% ahead of results

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

Wells Fargo WFC.N

Wells Fargo shares up 1.9% in volatile premarket trading

Co beat Wall St estimates for Q3 profit and raised its profitability target after regulators removed an asset cap imposed on the bank

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% ahead of results

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