Banks are the name of the game Friday, as Wall Street digests quarterly earnings news from Wells Fargo, Citigroup and others. Citi beat analyst expectations, though profit fell by 17 percent from a year ago to $4 billion. Wells Fargo's net income fell to $5.6 billion, down from $5.7 billion in the second quarter of 2015.
The announcements follow Thursday’s better-than-expected report from JPMorgan Chase. After a rocky first quarter for many banks, JPMorgan made $6.2 billion in the second quarter, fueled by strong trading profits and growth in lending.