JPMORGAN PROFIT RISES ON DEALMAKING, CREDIT EASES

JPMorgan Chase opened Wall Street's earnings season with third-quarter net income of $15.3 billion, up from $14.4 billion a year earlier, as earnings per share rose to $5.57 from $5.07. Investment banking fees jumped 13% to $3.0 billion and the bank set aside $2.7 billion for credit losses, 19% less than a year ago. The beat came even as trading revenue slipped 8% to $6.5 billion. $JPM's quarter shows dealmaking and shrinking credit risk did the heavy lifting, not the trading desks.