Morning Business Report: Major banks report strong earnings as markets rally, United Airlines projects record revenue

The nation’s largest banks are sending a message of confidence about the U.S. economy.

(LILAMAX)-  The nation’s largest banks are sending a message of confidence about the U.S. economy. Major lenders reported strong earnings this week, providing some reassurance amid the ongoing government shutdown and a lack of federal economic data.

Executives point to growing business confidence, low delinquencies on consumer debt, and a rallying stock market as key factors behind their profit gains.

United Airlines also joined the wave of optimism, projecting that brand-loyal customers and high demand for premium seats will drive profits through the end of the year. The company says the fourth quarter is on track to produce the highest total operating revenue in its history.

On Wall Street, stocks saw choppy trading Wednesday, but both the S&P 500 and Nasdaq ended higher, boosted by strong financial earnings. Investors continue to monitor the political stalemate in Washington as the government shutdown enters its third week.

A new Goldman Sachs analysis warns that American consumers will absorb 55 percent of the costs from President Trump’s tariffs this year. According to the report, U.S. businesses and foreign exporters will take on 22 and 18 percent of the costs respectively, while 5 percent will likely be avoided. Analysts say companies are expected to pass much of their increased costs on to shoppers in the coming months.

And for adults who love to build, LEGO is making waves with a new high-end release: the LEGO Icons Tropical Aquarium. The intricate set features colorful fish, coral, and underwater plants displayed inside a sleek black tank — and comes with a premium price tag of nearly $500.

Despite economic headwinds, the week’s financial news paints a picture of resilience — from Wall Street’s rally to consumers’ continued spending power.