Today marked a significant day for major banks as JPMorgan and Citigroup reported impressive earnings, surpassing analysts' expectations. JPMorgan's success was fueled by increased trading and investment-banking fees, while Citigroup excelled across all its business lines. Goldman Sachs also achieved record revenue, although its shares dipped due to rising compensation costs and upcoming job cuts. This news is crucial as it reflects the resilience and adaptability of these financial institutions in a fluctuating market.

As the earnings season kicks off, traders are closely watching the performance of major banks. JPMorgan Chase & Co. has shown resilience by surpassing estimates in trading and investment-banking fees, while Goldman Sachs Group Inc. experienced a decline due to a slight miss in equities revenue. Citigroup Inc. performed well, with revenue exceeding expectations across all divisions, and Wells Fargo managed to raise a key profitability metric despite a slight miss in net interest income. This earnings season is crucial as it sets the tone for the financial sector's performance in the coming months.