Fueled by the global boom in artificial intelligence stocks, relaxed capital rules and greater lending to hedge funds, big Wall Street banks have already had a banner year for equities trading — even with one quarter left to go.
Browsing: Wells Fargo & Co
Bank of America on Wednesday posted a sharp profit decline after being hit with a $1.2 billion penalty by U.S. regulators, while revenue also disappointed after trading operations generated about $750 million less than expected.
Morgan Stanley posted third-quarter results that beat expectations on blockbuster results in its equities trading franchise.
Walk the halls of any major banking conference or listen in on a quarterly earnings call, and one topic keeps coming up: With the window for mergers wide open under the Trump administration, who will take a swing?