Bank of America, JPMorgan Forecast Strong Q2 Trading Revenue Gains

Bank of America (BAC) and JPMorgan Chase (JPM) executives projected double-digit increases in second-quarter trading revenue, signaling another banner period for Wall Street’s markets divisions. Bank of America CEO Brian Moynihan said on May 27 that securities sales and trading revenue likely rose about 15% from a year earlier. JPMorgan CEO Jamie Dimon separately estimated markets revenue will grow 11%, marking the unit’s second-best quarter on record. The upbeat outlook follows an all-time high for U.S. big banks in the first quarter, driven by surging equity trading amid Iranian war-related volatility and concerns over artificial intelligence and private credit risks. JPMorgan also expects investment banking fees to climb 10% or more. Dimon noted that heated markets and robust corporate activity are warranting higher spending, with the bank’s full-year expenses now tracking about $1 billion above prior plans. Separately, Moynihan highlighted that net interest income at Bank of America is on track to reach the upper end of its 6%-8% growth target for 2026, while the bank continues to hire wealth management advisors.