Big bank profits surged in the fourth quarter and Wall Street roared back to life, with net income rising 50% at JPMorgan Chase and more than doubling at Goldman Sachs.

JPMorgan Chase significantly exceeded fourth-quarter expectations with strong earnings, despite challenges like credit costs and regulatory pressures.

On Wednesday, three of the four largest U.S. banks—JPMorgan Chase, Wells Fargo, and Citigroup—will report their earnings for 2024 and the fourth quarter, as will Goldman Sachs, the sixth-largest lender. Bank of America and Morgan Stanley are due to report on Thursday morning.