JPMorgan Co-President Doug Petno said Tuesday that trading revenue for the period through Sept. 30 should grow by a percentage in the mid to high teens, with investment-banking fees likely up by a similar amount. He added that the investment-banking business has a healthy pipeline of deals.
A day earlier at the same Barclays gathering, Bank of America CEO Brian Moynihan projected third-quarter revenue as "relatively flat" compared with the same quarter in 2025, noting a pullback in financing activity partly tied to a moderation in Asian prime-brokerage balances. After Petno spoke, JPMorgan shares erased declines and were changing hands at $354.50, up 1.3%, as of 3:35 p.m. in New York.
Powered by favorable conditions and brisk trading, JPMorgan notched a record profit for the second quarter. According to Petno, dealmaking continues to carry forward, and earlier this month Dorothee Blessing, the bank's co-head of global investment banking, said activity looks on track for a record year.
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If volatility stays lively and the deal calendar keeps filling, banks most tied to those engines could post stronger near-term results, while BofA's more muted tone is a reminder that performance can diverge by business line and region. For everyday investors, expect more headlines and choppier moves in financials exposure, which makes knowing what you own matter even more.
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