Trading surge, helped by SpaceX IPO, seen lifting Wall St banks' second-quarter earnings

U.S. Wall Street bank earnings in Q2 are expected to rise, driven by a surge in sales and trading linked in part to SpaceX’s blockbuster IPO. Analysts citing LSEG data point to solid fee growth from M&A advisory, implying improved revenue momentum for investment banking. The setup is broadly positive but likely more stock-specific than market-wide.

Analysis

U.S. Wall Street bank earnings in Q2 are expected to rise, driven by a surge in sales and trading linked in part to SpaceX’s blockbuster IPO. Analysts citing LSEG data point to solid fee growth from M&A advisory, implying improved revenue momentum for investment banking. The setup is broadly positive but likely more stock-specific than market-wide.