U.S. Goldman Sachs also announces 'surprise performance'...Investment Bank Profits Grow Significantly

Major U.S. banks announced a series of "surprise results" in the third quarter as U.S. interest rate cuts continued the New York stock market's rise.

Goldman Sachs said third-quarter net income rose 45% year-over-year to $8.4 per share, well above market expectations of $6.89.

It is analyzed that the U.S. Fed's interest rate cut stance and the strong New York Stock Exchange have increased stock trading fees and profits in the investment banking sector.

Bank of America and Citi also reported better-than-market results, while JPMorgan Chase and Wells Fargo, which reported earnings earlier, also posted "surprise earnings" above expectations.