Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America and Citi all posted strong earnings returns — signs a dealmaking wave may be here to stay.

In the latest quarter, the largest U.S. banks led by JPMorgan Chase (JPM.N), Goldman Sachs (GS.N), and Bank of America (BAC.N) flagged big profits from the booming business of prime brokerage, which involves lending cash and securities to hedge funds to help execute large trades.

Amazon also plans to spend more than $100 billion this year expanding its cloud and AI data centers. CEO Andy Jassy has signaled that automation and AI are likely to shrink some white-collar roles in the years ahead, calling on employees to adapt to the evolving landscape.

Stocks are climbing following strong profit reports from big banking and technology companies. The S&P 500 rose 0.9% Wednesday, coming off a roller-coaster day where it careened between a sharp loss and modest gain.

Morgan Stanley and Bank of America on Wednesday reported third-quarter financial results that blew past investors’ expectations, thanks in part to their dealmakers’ and traders’ fortunes. Mergers and acquisitions and initial public offerings are picking up,

Stellantis shares jolted higher by $13B investment in U.S. manufacturing. Netflix to carry video podcasts from Spotify. JPMorgan CEO Jamie Dimon says it’s ‘semi-rational’ to own gold.

U.S. stock index futures rose on Thursday, boosted by strong quarterly update from TSMC that reinforced investor optimism around AI, extending a rally in chip stocks in the previous sessions.

Ark Invest's Cathie Wood says AI in healthcare could drive the next big boom, calling the sector "the most inefficiently priced part of the market."

Wall Street is warning the AI trade may be overheating as record spending, investor optimism, and soaring valuations fuel fresh fears of a bubble.