Key facts
- Wall Street banks are projected to earn around $22 billion from stock trading in the third quarter.
- Goldman Sachs is anticipated to be the top performer among the banks.
- The strong trading revenue is attributed to market volatility.
Major Wall Street banks are on track to report a significant increase in stock trading revenue for the third quarter, with an estimated total of $22 billion. Goldman Sachs is expected to be the leading contributor to this impressive figure. This surge in trading income is largely a response to the heightened market volatility experienced during the period, which typically boosts trading desks' activity and profitability. The initial estimate for this revenue was $19 billion, indicating a substantial upward revision.