Big bank profits surged in the fourth quarter and Wall Street roared back to life, with net income rising 50% at JPMorgan Chase and more than doubling at Goldman Sachs.

Goldman Sachs Group outperformed expectations in its fourth-quarter and full-year earnings with a robust financial showing across all segments.

JPMorgan, Wells Fargo, Goldman Sachs and Citi are kicking off earnings season on Wednesday with their December-quarter results.

Goldman Sachs said its profit more than doubled in the fourth quarter, boosted by companies’ growing appetite for dealmaking. Profit jumped 105% to $4.11 billion. That amounted to $11.95 per share, which was far better than the $8.

JPMorgan Chase on Wednesday posted record quarterly and annual earnings and revenue, reinforcing the company’s status as the biggest and most profitable bank in U.S. history.

Activity on Wall Street helped buoy the bank’s fourth-quarter earnings

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With the U.S. economy humming along, JPMorgan Chase (NYSE:JPM) turned in stronger-than-expected Q4 earnings, with net interest income staying flat with Q3 and investment banking and capital markets-related revenue strengthening.