Goldman Sachs Expected to Lead Wall Street's $19B Q3 Stock Trading Revenue

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Summary · why it matters

Goldman Sachs is expected to lead Wall Street's stock trading desks with $5.1B in Q3 revenue, part of an almost $19B total across the top banks, according to a Bloomberg News report citing analyst estimates. Morgan Stanley is close behind at $4.9B, while JPMorgan Chase is estimated at $4.5B and Bank of America's trading desk at $2.6B. At fixed-income desks, higher interest rates are pressuring trading, with the fixed-income businesses at five of the largest U.S. banks expected to bring in more than $19B in Q3, down from the more than $21B they recorded in Q2 2026. Investment banks are also seeing signs of slower Q3 activity, as the value of announced M&A deals in Q3 fell about 10% from a year earlier, according to data compiled by Bloomberg. In premarket trading, Goldman Sachs rose 0.6%, JPMorgan Chase increased 0.5%, Morgan Stanley gained 0.6%, and Bank of America added 0.3%.

Impact on assets 4

Financials▲
Goldman Sachs Group Inc
GS
▲ PositiveCapitalrelevance

Goldman Sachs expected to lead Wall Street with $5.1B in Q3 stock trading revenue, per analyst estimates.

Morgan Stanley
MS
▲ PositiveCapitalrelevance

Morgan Stanley close behind Goldman at $4.9B in estimated Q3 stock trading revenue.

Bank of America Corp
BAC
± MixedCapitalrelevance

Bank of America's trading desk estimated at $2.6B in Q3 stock trading revenue, lowest of the top banks, with fixed-income also pressured by higher rates.

Digital Finance & Tokenization▲
JPMorgan Chase & Co
JPM
± MixedCapitalrelevance

JPMorgan's trading desk estimated at $4.5B in Q3 stock trading revenue, with fixed-income pressured by higher rates.