Home 2020 $100-B + Year for Wall Street Banks IB and Trading Units

$100-B + Year for Wall Street Banks IB and Trading Units

#WallStreet #Banks #Trading


Wall Street bank’s banner year will a on a high note, mostly down to Trump Administration policies and despite COVID chaos“–Paul Ebeling

The heads of the 2 largest US banks, JPMorgan Chase & Co.(NYSE:JPM) and Bank of America Corp.(NYSE:BAC), told investors that their investment-banking and trading divisions will mark a strong performance in Q-4 as economic activity stayed resilient despite the COVID-19 chaos.

Bank of America’s global markets business, “is going to have very good earnings this year,” CEO Brian Moynihan said during a virtual conference Wednesday. Its investment-banking division is expected to report fees of as much as $1.7-B for the last 3 months of Y 2020, 10 to 15% higher than last yrs numbers.

JPMorgan’s trading and investment-banking businesses are on track to generate 20% more revenue in Q-4 Y 2020 than they did in the same frame last year, CEO Jamie Dimon said. That would put trading revenue at $5.9-B, capping a record year for the group.

The world’s largest banks have lauded their fortress balance sheets as a show of strength during the virus chaos. The health crisis has roiled hurt consumer small businesses in the US.

Wall Street trading units always benefit from a high volatility and client activity. The 5 biggest US investment banks are on pace for their 1st $100-B yr for trading revenue in 10+ yrs.

Wednesday, the benchmark US stock market indexes finished at: DJIA -105.07 to 30068.75, NAS Comp -243.82 at 12338.87, S&P 500 -29.43 to 3672.83

Volume: Trade on the NYSE came in at 1.1-B/shares exchanged.

Heffx-LTN’s overall technical analysis of the major US stock market indexes is Bullish with a Very Bullish bias in here.

  • NAS Comp +37.5% YTD
  • Russell 2000 +14.0% YTD
  • S&P 500 +13.7% YTD
  • DJIA +5.4% YTD

Looking Ahead: Investors will receive the weekly Initial and Continuing Claims report, the Consumer Price Index for November, and the Treasury Budget for November Thursday.

Have a healthys day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.