July 12, 2024 5:53 PM

JPMorgan profit jumps on higher investment banking fees, accounting gain

JPMorgan Chase reported a 25%rise in second-quarter profit on Friday, buoyed by rising investment banking fees and an accounting gain of about $8 billion from a share exchange deal with Visa. Wall Street banks have benefited from a resurgence in capital-raising activity in debt and equity markets. They are also seeing an uptick in fee income from advising on M&A deals as companies become more confident in the U.S. economy's ability to avoid a major downturn. "While market valuations and cr...