Morgan Stanley said Q2 2026 equities trading revenue rose to $6.3bn, up 69% YoY, a quarterly record driven by stronger market activity and sustained volatility. Wealth management net new assets were $148.1bn, well above analyst expectations. Equity u

2026-07-15

Morgan Stanley said Q2 2026 equities trading revenue rose to $6.3bn, up 69% YoY, a quarterly record driven by stronger market activity and sustained volatility. Wealth management net new assets were $148.1bn, well above analyst expectations. Equity underwriting fees from the record SpaceX IPO, which Morgan Stanley co-led with Goldman Sachs, reached $851m, up 70% YoY, lifting total investment banking fees to $2.44bn. Peer banks JPMorgan, Goldman Sachs, BofA and Citigroup also reported stronger-than-expected equities trading results and, in several cases, record quarterly highs.