US banking giants reap gains from dealmaking rebound

NEW YORK (Reuters) -Large U.S. banks expressed optimism about the investment banking outlook for the rest of the year after dealmaking rebounded in the second quarter, as they reported in earnings on Tuesday. JPMorgan Chase, Citigroup and Wells Fargo kickstarted second quarter bank earnings on Tuesday, beating profit expectations as the U.S. economy remained resilient even as U.S. trade policies fuel market turbulence. "Despite choppy waters at the start of the quarter in the wake of tariff uncertainty, banks weathered the volatility with business outlook improving as the quarter progressed," KPMG's U.S. banking sector leader Peter Torrente said.