Top U.S. Banks Seen Riding Trading Boom as 2021 View Brightens
- Analysts predict best trading year in at least a decade
- Vaccines raise hopes industry will rebound from profit slump
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Wall Street’s biggest trading windfall in a decade probably wasn’t enough to prevent a 30% drop in profits at its biggest banks last year as the pandemic slammed the economy. But what if the good part continued and the bad didn’t?
That’s the scenario analysts are pondering as the industry’s five U.S. giants -- JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley -- prepare to post quarterly results starting Friday. Investors will be listening for signs that trading activity will endure, but with less pain in other businesses.