TREE NEWS reports: Wall Street’s largest banks are expected to report combined third-quarter equities trading revenue of nearly $19 billion when earnings land next week, with Goldman Sachs forecast to lead at $5.1 billion, followed by Morgan Stanley at $4.9 billion, JPMorgan at $4.5 billion and Bank of America at $2.6 billion. Analyst estimates compiled as of Thursday’s New York close show performance gaps widening as capital-market activity cools, in contrast to the first half when all five banks benefited from a trading boom.
Wall Street’s Five Biggest Banks Seen Posting $19B in Q3 Equities Trading Revenue
AI take
The dispersion matters more than the headline total: Goldman and Morgan Stanley are projected to out-earn JPMorgan and Bank of America by a wide margin, suggesting equities franchises are not moving in lockstep as capital-market activity cools. That divergence, after a first half where all five rode the same trading boom, is the real signal — it hints at differing client mix and risk appetite rather than a uniform slowdown. Whether that gap persists into the next reporting cycle is the open question.
Generated by AI for reference only.
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