JPMorgan Chase & Co.'s better-than-expected results lifted both bank stocks and the broader markets Wednesday.

The KBW Bank Index rose 3.19% after JPMorgan Chase said that its third-quarter net income rose more than sixfold from a year earlier, to $3.6 billion, or 82 cents a share. Analysts on average were expecting the New York company to earn 52 cents a share. The company's shares rose 3.3% Wednesday.

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