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JPMorgan (JPM) posts surprise NII profit as investment bank gains
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JPMorgan (JPM) posts surprise NII profit as investment bank gains

JPMorgan Chase & Co. reported a surprise increase in net interest income for the third quarter and raised its forecast for the main revenue source, even as U.S. interest rates are expected to continue falling.

Revenue from the bank’s Wall Street operations also exceeded analyst expectations, with investment banking fees rising 31%, beating expectations for a 16% gain. Stock traders recorded a 27% increase in turnover.