Wall Street banks expect surging trading and advisory fees driven by SpaceX IPO and geopolitical volatility to boost second-quarter earnings.
JPMorgan Chase and Bank of America are expected to report near-record trading revenue in the second quarter, fueled by heightened market activity. Analysts cite the SpaceX IPO and Iran-related volatility as key drivers for equities and fixed-income trading gains.
The surge follows a strong start to the year, with mergers and IPO activity accelerating. Business lending and consumer credit also show resilience, easing earlier recession concerns tied to high interest rates.
Financial stocks have outperformed broader markets for two consecutive years, supported by regulatory easing and robust capital markets activity.