New York State Comptroller Thomas DiNapoli says profit across the broker-dealer businesses of firms that belong to the New York Stock Exchange is pacing to exceed $90 billion in 2026. That projection, built off first-half strength, would comfortably top the prior high of $65.1 billion in 2025. His office also called the opening two quarters the strongest two-quarter stretch the securities industry has ever posted.
Big swings in markets and a rebound in dealmaking juiced key revenue lines, and the major players are saying it out loud. Goldman Sachs Group Inc., for instance, logged its third straight all-time quarterly record for stock trading at any bank. Within New York's securities industry, underwriting revenue jumped 68% in the first half, while account supervision and advisory revenue rose 16.4%. DiNapoli added that, absent a major economic setback, finance professionals should see record bonuses in the new year, though he didn't give numbers.
Bank profits are a direct readout on trading volumes, lending, and deal flow. Market Briefs covers Wall Street free every morning.
A blowout year on Wall Street spills into the broader economy. The securities industry delivered at least $26.3 billion in business and personal income taxes to New York State for fiscal 2025-26, nearly 29% more than the prior year. In 2025, industry employment totaled 207,400, and the comptroller's office projects roughly 5,300 more positions will be added this year.
There are clouds on the horizon. The comptroller's office identified artificial intelligence, inflation, and global conflicts as "growing concerns" posing risks. And it cautioned, "Given the increasing contributions to both the city's and state's tax bases, the potential for an industry downturn presents an increasing risk to public finances and the broader regional economy." Translation for your wallet: fat profits and bigger bonuses can lift local jobs and services, but a stumble on Wall Street would show up quickly in paychecks, tax receipts, and spending across New York.
A record profit year tells you which parts of finance are actually booming. Get the free Market Briefs daily newsletter and follow the numbers.
