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Booming Bank Profits Add Another Layer to Wall Street Rally

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Booming Bank Profits Add Another Layer to Wall Street Rally

A Bank of America branch in New York City on Jan. 10, 2017. Stephanie Keith /Reuters

Big banks are reporting big profits in the thick of the third-quarter earnings season, adding another layer to the record Wall Street rally.

Bank of America topped market expectations on Oct. 15, reporting a 23 percent year-over-year increase in profits to $8.5 billion, or $1.06 a share.

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