Wall Street's Five Major Banks Expected to Report Nearly $19 Billion in Q3 Equities Trading Revenue

PANews, October 9 - According to foreign media reports, Wall Street's largest banks are expected to disclose combined equities trading revenue of nearly $19 billion for the third quarter when they report earnings next week. However, as capital market activity begins to cool, performance gaps between banks are gradually emerging, with some banks clearly outperforming their competitors. This stands in sharp contrast to the first half of this year, when nearly all of the five major U.S. banks benefited from a trading boom, with both equities and fixed-income trading desks remaining busy. According to analyst forecasts compiled as of Thursday's New York market close, Goldman Sachs Group, which reports earnings next Tuesday, is expected to lead major banks with $5.1 billion in third-quarter equities trading revenue. Morgan Stanley is expected to follow closely with $4.9 billion in equities trading revenue; JPMorgan Chase is expected to post $4.5 billion; and Bank of America's equities trading division is expected to generate $2.6 billion in revenue.