Wall Street banks smash records on stock trading boom

Wall Street banks, including JPMorgan, Goldman Sachs, Citigroup, and BofA, are reporting record earnings driven by a stock trading boom and an AI super cycle. These institutions are benefiting from increased deals, financing, and the SpaceX IPO. This marks the second consecutive quarter of strong results, supported by a resilient US consumer and market volatility following the Iran war in late February. The AI frenzy continues to significantly boost overall profitability across the banking sector.