Wall Street ticks up in choppy trading after mixed bank results

(Reuters) – Wall Street’s main indexes inched higher in choppy trading on Wednesday as investors digested a mixed bag of quarterly earnings reports from major U.S. banks.

FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson

Goldman Sachs edged up as strength in its trading business helped quarterly profit surge 94%. Bank of America shed 4.0% after it missed revenue estimates and Wells Fargo declined 4.6% as its profit fell short of forecasts.

The S&P 500 banks index dropped 1.3% as the third-quarter earnings season took off amid improving expectations over the extent of the drop in overall profits for S&P 500 firms. Analysts now expect earnings to fall 18.9% from a year, according to

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