Wall Street’s banner first half in trading was based on handling tariff-induced market chaos. The third quarter showed the biggest banks can also seize on the stock market’s steady march higher.
Morgan Stanley led the pack in generating $4.12 billion from trading stocks in the bank’s best third quarter for the business ever. Rivals JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. also all topped estimates for equities trading — with only Goldman Sachs Group Inc. lagging analyst predictions though its tally was still up on the prior year.
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