{"id":656,"date":"2026-10-17T14:15:21","date_gmt":"2026-10-17T14:15:21","guid":{"rendered":"https:\/\/bugleblast.com\/?p=656"},"modified":"2026-10-17T14:16:09","modified_gmt":"2026-10-17T14:16:09","slug":"big-banks-q3-traders-cash-in-jpmorgan-misses","status":"publish","type":"post","link":"https:\/\/bugleblast.com\/?p=656","title":{"rendered":"WALL STREET\u2019S TRADERS CASHED IN ON THE CHAOS \u2014 AND JPMORGAN STILL MISSED! | War and rate whiplash fed the equity desks. Dealmaking cooled, JPMorgan missed for the first time in nearly three years, and BofA ate a $1.2 billion penalty"},"content":{"rendered":"

The six biggest U.S. banks reported third-quarter results this week. The quick version: the chaos paid the traders<\/strong>, and the dealmakers got nervous.<\/p>\n

JPMorgan blinked.<\/strong> The nation’s biggest bank earned $15.3 billion, or $5.57 a share<\/strong>, up 6% from a year ago. Analysts expected about $5.85, according to LSEG. Reuters says it was JPMorgan’s first profit miss since late 2023. The quarter included $658 million of investment-securities losses; without them, EPS would have been $5.75. Investment-banking fees fell 8% from the second quarter, and fixed-income trading slipped 4%. Equity-markets revenue, though, jumped 49%<\/strong>. JPMorgan also raised its full-year interest-income forecast to roughly $106.2 billion, and it raised its expense forecast to about $108.6 billion.<\/p>\n

Goldman feasted.<\/strong> Goldman Sachs earned $5.29 billion, or $17.01 a share<\/strong>, up 29%. Revenue rose 23% to $18.68 billion, its second-best quarter ever. FactSet’s consensus was $12.86 a share, MarketWatch reported. Equities trading drove it.<\/p>\n

Morgan Stanley piled on.<\/strong> Equity trading revenue hit about $5.8 billion<\/strong>, up nearly 41%. EPS of $3.03 beat the $2.91 estimate, Reuters reported. Fixed-income trading fell 7.3%.<\/p>\n

Citi and Wells.<\/strong> Citigroup earned $5.2 billion, or $2.85 a share, on $23.8 billion of revenue, its best third quarter in a decade. Wells Fargo earned $1.87 a share, above estimates, but its $21.87 billion in revenue missed. Wells CFO Mike Santomassimo said the big jump in the 10-year yield had an effect on activity.<\/p>\n

BofA paid the fine.<\/strong> Bank of America’s profit fell 17% to $6.9 billion<\/strong>. It took a $1.2 billion non-tax-deductible charge tied to regulatory penalties over anti-money-laundering and sanctions compliance, which cost 17 cents a share. Its fixed-income trading revenue fell 17%.<\/p>\n

The big picture.<\/strong> Reuters says the deal and trading boom behind record first-half earnings may be slowing, as a “grinding bond market rout” and stock swings weighed on activity, especially in late September. Executives still described a strong deals pipeline, and they said consumers and businesses remain in good shape.<\/p>\n

So the war, the rate scare and the AI jitters made fortunes on the equity desks while clients sat on their hands. Wall Street got paid for the fear this time. The real test is whether the dealmakers come back.<\/p>\n

Sources:<\/strong> Reuters (via Investing.com): JPMorgan posts rare profit miss<\/a> \u00b7 JPMorganChase 3Q26 earnings release (SEC)<\/a> \u00b7 MarketWatch: JPMorgan, Goldman profits jump as banks kick off earnings<\/a> \u00b7 Reuters (via Investing.com): Morgan Stanley beats on equity trading<\/a> \u00b7 CNBC: Bank of America Q3 2026 earnings<\/a> \u00b7 Reuters (via Yahoo Finance): Wall Street banks see deals slow<\/a><\/p>\n

Featured image: editorial illustration by Bugle Blast.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

War and rate whiplash fed the equity desks. Dealmaking cooled, JPMorgan missed for the first time in nearly three years, and BofA ate a $1.2 billion penalty<\/p>\n","protected":false},"author":1,"featured_media":651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/bugleblast.com\/wp-content\/uploads\/2026\/10\/bb-big-banks-q3-1017.jpg","_links":{"self":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=656"}],"version-history":[{"count":1,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/656\/revisions"}],"predecessor-version":[{"id":657,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/656\/revisions\/657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/media\/651"}],"wp:attachment":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}