In Other News · United States · Business

Source: Axios

Data: NYSE/Intercontinental Exchange via the New York State Comptroller; Chart Emily Peck/Axios; Note: 2026 projected by the comptroller if first-half growth continues at current pace. First-half 2026 profits were $45.9 billion. Profits are for broker-dealer operations of NYSE member firms and are not adjusted for inflation.Wall Street profits are blowing past expectations this year, the New York State Comptroller's office finds in a new report.Why it matters: Profits are on track for an all-time record, a sign of how the AI boom is fueling dealmaking and how volatile markets are helping trading.By the numbers: In the first half of this year, Wall Street firms raked in $45.9 billion — that's 51.3% more than the same period last year, and already more than the $45.3 billion forecast for the entirety of 2026.If growth continues apace, annual profits could exceed $90 billion.Zoom out: That's far more than 2025's record $65.1 billion and rivals the 2009 record even after accounting for inflation, the report says.Stunning stat: The fees that firms earn from underwriting — helping companies sell new stocks and bonds — rose 68% in the first half of the year, compared with the first half of 2025.Zoom in: That tracks with a 76.5% increase in...