Bank of America and Citigroup notched higher revenue and profit as their trading desks benefitted from a sharp rise in market volatility in the first quarter. Read more about the results here and follow our coverage below.

Shares of major U.S. banks surged after Bank of America (BAC) and Citigroup (C) became the latest lenders to report better-than-expected first-quarter earnings on the back of a stock-trading boom. Bank of America shares were up 4.

Citigroup and Bank of America have reported stronger-than-expected first-quarter results, lifting bank shares despite mounting economic uncertainty linked to new tariffs and policy risks. Bank of America shares rose 4.