Zaid Admani

Equity traders at the bank posted their highest ever quarterly revenue, bringing in $11.6 billion through the first six months of 2026.

That's a 20% jump from Q1 of last year and nearly $2 billion more than the previous record.

You know, all the volatility in the markets in Q1 means more trading, which means more money for JP Morgan traders.

Their investment banking business also crushed it with M&A advisory fees jumping 82%.

But despite the growth in their key businesses, JP Morgan lowered its full year guidance for net interest income, which is the money they make from lending money.

On top of that, CEO Jamie Dimon emphasized that while the US economy remained resilient in Q1, he warned that the economy is facing increasingly complex set of risks.

So it's classic Jamie being a slight downer.

JP Morgan stock is down less than 1% this morning at the time of this recording.

Moving on to Wells Fargo data, disappointed earnings.

The bank missed estimates on both lending income and fee revenue.

Now, Wells Fargo's trading desk also benefited from the market volatility with revenues up 38%, but their trading operation is much smaller than JP Morgan's.

Wells Fargo stock is down around 6% this morning at the time of this recording.

And finally, there is Citigroup, the only of the three banks seeing their shares jump this morning.

Citi posted its best quarterly revenue in a decade.

Earnings per share jumped 56% from a year ago.

CEO Jane Frazier said the bank's turnaround is entering its final phase and investors are clearly buying in.

Citi is the best performing big bank stock so far this year.

So, yeah, the big picture takeaway here is that these banks are thriving on the market volatility.

Let's shift gears and talk about Amazon, because they just announced that they are acquiring the satellite company GlobalStar.

Amazon is paying $90 a share, valuing GlobalStar at around $11 billion, and the deal is expected to close next year.