Big Banks' Big Beat, Oil Spikes as Israel Orders Gaza Evac

JP Morgan, Wells Fargo, and Citigroup all reported earnings that easily beat expectations this morning as the big banks have benefited from higher Net Interest Income. Customers have fled smaller banks for the perceived safety of big banks who have been able to charge higher rates for loans without raising the payouts to depositors. Elsewhere the price of oil is spiking this morning after Israel ordered the evacuation of more than a million people from Gaza City in 24 hours before the expected military ground operation there.

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