The biggest US banks made more than $120 billion last year

You wouldn't know it from watching their stocks, but the biggest US banks just had a banner year.

JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), Goldman Sachs (GS) and Morgan Stanley (MS) brought in more than $120 billion combined in profit last year, the result of President Donald Trump's corporate tax cuts and a booming economy.

That's a record showing. It also dwarfs the amount they made in 2017, when many banks faced large, one-time charges related to tax reform.

Those results highlight the degree to which bank shares have diverged from actual business performance. The sector's stocks had a dismal 2018, weighed down by concerns about rising interest rates, the shrinking difference between short-term and long-term bond yields, and global issues such as trade and Brexit.

But fears about slowing economic growth ahead take focus off what's happening right now: American banks are making more money than ever.

https://www.msn.com/en-us/money/companies/the-biggest-us-banks-made-more-than-dollar120-billion-last-year/ar-BBSrlLh?li=BBnbfcN