Wells Fargo, JPMorgan 2nd-quarter profits beat Wall Street forecasts

Wells Fargo's second-quarter net income surges 19% to a record $5.5 billion despite a rise in mortgage rates. JPMorgan earns $6.5 billion, up 31%.Wells Fargo & Co. booked a record $5.5 billion in profit during the second quarter despite a dramatic rise in mortgage rates and signs of a slowdown in its refinancing business.