Wall Street Breakfast
Banks cashing in on a volatile market
Apr 15, 2025
Strong trading revenue is boosting major banks like Goldman Sachs and Bank of America amid market volatility. Meanwhile, the decline in business confidence signals shifts in capital expenditures. In an innovative twist, Uber and Waymo are teaming up to launch robo-taxi services in Atlanta. Add to this the growing anxiety among fund managers over the looming threat of a trade war, and you've got an intriguing look at the current economic landscape.
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Quick takeaways
- Banks like Goldman Sachs and Bank of America are thriving due to strong trading revenues amidst market volatility.
- Concerns about a potential trade war are heightening anxiety among fund managers, affecting business investment expectations.
Deep dives
Bank Performance Amid Market Volatility
Banks have been thriving in a volatile market, with notable performances from Goldman Sachs, Bank of America, and Citigroup. Goldman Sachs reported strong earnings driven by equity sales and trading, while Bank of America showcased a significant increase in both revenue and earnings, supported by growth in net interest income. CEO Brian Moynihan highlighted an 18% increase in GAAP EPS and signaled the potential for a changing economic environment ahead. Citigroup also reaffirmed its guidance for 2025, reporting a favorable quarter largely attributed to its markets and investment banking sectors.
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