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Bank Earnings Clear Path for Stock Record Highs

Bloomberg
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Wall Street banks reported record first-quarter earnings in 2026, led by Morgan Stanley and Bank of America, as volatility-driven trading surged. Morgan Stanley’s equity trading revenue hit $5.15 billion—a 25% year-over-year jump—exceeding forecasts and pushing total trading revenue to $8.51 billion. The bank’s wealth management division attracted $118.4 billion in net new assets, outperforming expectations amid strong investor demand. Bank of America’s stock-trading desk also set a record, capitalizing on market volatility to achieve its highest earnings in nearly two decades. Analysts attribute the gains to heightened market activity, reflecting broader economic uncertainty and investor repositioning.
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Morgan Stanley’s stock traders joined the rest of Wall Street with a record-breaking first quarter. The firm took in $5.15 billion from equity trading in the first three months of the year, according to a statement Wednesday. The 25% jump came in ahead of expectations and boosted total trading revenue to $8.51 billion. Morgan Stanley’s closely watched wealth business pulled in $118.4 billion in net new assets, more than expected. As Bank of America Corp.’s stock-trading desk set a record, riding a wave of volatility that helped push the bank’s earnings to the highest in nearly two decades. Bloomberg's Herman Chan joins to discuss these two big bank earnings. (Source: Bloomberg)

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Source: Bloomberg

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