Goldman Sachs, Bank of America rock earnings

Goldman Sachs reported better-than-expected profits on Wednesday despite higher legal costs as it works through the 1MDB scandal, while Bank of America's earnings were lifted by higher interest rates. Goldman reported mixed operational performance across its trading, investing and lending businesses, while Bank of America saw its profits triple compared to a year earlier. Goldman Chief Executive David Solomon described conditions in the real economy as "quite robust," echoing other bank executives who downplayed as exaggerated the economic worries that have roiled markets in recent weeks.

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