Wall Street's biggest banks posted record profits as trading and dealmaking surged

The robust earnings from JPMorgan, Goldman Sachs, Bank of America, Citigroup, and Wells Fargo marked a 39% increase from the same period a year earlier

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Five of America's biggest banks posted a combined $49 billion in quarterly earnings on Tuesday, riding a a boom in stock trading, a flurry of initial public offerings, and a rebound in dealmaking to a record second quarter.

The robust earnings from JPMorgan $JPM Chase, Goldman Sachs $GS, Bank of America $BAC, Citigroup $C, and Wells Fargo $WFC marked a 39% increase from the same period a year earlier for the Wall Street giants, according to The Wall Street Journal.

JPMorgan reported second-quarter net income of $21.2 billion, the highest quarterly profit in the bank's history, with every line of business posting record revenue. Excluding a........

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