Business
Wall Street banks post strong Q2 profits on M&A and IPO boom, executives warn of risks
July 15, 2026 at 09:28 AM
Coverage
Major banks including JPMorgan and Bank of America reported quarterly earnings that beat forecasts, driven by surging investment banking fees and trading, while some flagged economic vulnerabilities.
- JPMorgan Chase, Bank of America, Goldman Sachs, Wells Fargo, and Citigroup all reported second-quarter profits that exceeded Wall Street expectations.
- Global investment banking revenue reached $61.4 billion in the first half of 2026, a 24% increase from the prior year, according to Dealogic.
- JPMorgan CFO Jeremy Barnum warned of "how fragile and dangerous the current situation is," citing high leverage and elevated corporate valuations.
- Bank of America CEO Brian Moynihan said inflation and tighter monetary policy remain key risks, while Wells Fargo CEO Charlie Scharf cautioned that strong conditions "don't last forever."