The first batch of the biggest U.S. lenders’ quarterly earnings reflected two realities of an economy that is on solid footing but just starting to exit a period of decades-high interest rates: Consumer spending is holding up,

(Reuters) -JPMorgan Chase's profit dropped in the third quarter as a bigger provision for potential loan defaults offset gains from investment banking, the bank said on Friday.

JPMorgan Chase reported a dip in profits on higher costs Friday while still topping expectations as executives described US consumers as healthy and the economy as poised to avoid recession.