Wall Street Traders Propelled Bumper Quarter for Biggest Banks
- Here are five takeaways from U.S. banks’ quarterly results
- Goldman, Morgan Stanley executives don’t see a repeat in 2021
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Record trading revenue helped make 2020 a far better year for the biggest U.S. banks than for most other industries, with the coronavirus pandemic ripping through the country’s economy.
While optimism seems to have taken hold across much of Wall Street, the question now is what 2021 will look like, with Goldman Sachs Group Inc. and Morgan Stanley executives saying it’s unlikely that last year’s trading surge will be repeated.