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CHART 1 • The $67 billion equities boom for Wall Street
According to CNBC, Wall Street banks have had a bumper year when it comes to trading revenue, fuelled by the global boom in artificial intelligence stocks, relaxed capital requirements and a huge amount of lending to hedge funds.
To add some context, according to company filings, this year, up until 30 September, the banks reported $7 billion more than the same group reported during the whole of 2025, meaning that this is a record haul.
Together, the five earned $66.95 billion. Goldman Sachs, Morgan Stanley and JPMorgan supplied most of it, while Bank of America and Citi made smaller contributions despite strong growth of their own. Equities revenue includes more than fees from buying and selling shares. Banks also handle derivatives and finance institutional clients’ positions.
Busier client trading and borrowing helped lift the leading banks’ results; Goldman specifically recorded higher financing and derivatives revenue in the third quarter. The figures do not separate those activities at every bank.
Source: CNBC
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