Wall Street is firing on all cylinders, fueled by deals and trading

Wall Street is firing on all cylinders. Dealmaking, trading and corporate lending are gaining steam and fueling profits at the nation’s biggest banks, with Goldman Sachs, JPMorgan Chase, Citigroup and Wells

- Annamaria Andriotis, Alexander Saeedy & Ben Glickman

JPMorgan is on track to make over $50 billion in annual profit for the second year in a row.

(REUTERS)

Fargo all beating third-quarter profit and revenue forecasts.

Goldman is now on pace for its best year ever in its main investment-banking and markets division. JPMorgan is on track to make over $50 billion in annual profit for the second year in a row. BlackRock is sitting on a record $13.5 trillion in assets under management.

The strength is evident across many of the banks’ businesses, reflecting the enthusiasm in the stock market and corporate boardrooms.

Record high stock markets fueled increased trading and borrowing by hedge funds and others to buy even more securities. President Trump's policymaking is adding volatility that keeps traders eager to move, but not so much to spoil the punch.

Financing activity is surging, with mergers on the rise. Then there are the massive investments in the rise of artificial intelligence, building out data centers and other infrastructure.

The year has seen the biggest-ever leveraged buyout to take videogame maker Electronic Arts private, advised by Goldman and funded by an immense $20 billion financing from JPMorgan. And Bank of America is expected to bring in the biggest-ever disclosed deal fee for a single bank, a cool $130 million.