Wall Street Makes a Record $45.9 Billion Profit in the First Half

BY SRH

Wall Street brokerages made more money than ever in the first half of the year. New York State Comptroller Thomas DiNapoli’s report from October 6 says that the U.S. finance business made $45.9 billion even though the economy and politics were unstable.

The amount is more than New York City’s prediction of $45.3 billion for the year and the record set in 2009 when prices were adjusted for inflation.Wall Street is projected to make more than $90 billion a year, which will be more than last year’s $65 billion.

During the January–June boom, spending on AI, changes in the market, and mergers and acquisitions all caused trading rates to rise.Trading made $40.3 billion, which is about 2% more than last year.

From tariff stories in 2025 to the Iran war in 2026, U.S. stock prices have gone up and down by trillions of dollars in a single trading session.In a news release, DiNapoli said, “Strong profits should continue to boost state and city revenue unless there is a recession or major market disruption.”

Wall Street is very important to New York City’s economy and finances.Payroll at securities companies went up about 4% year-over-year, adding 7,000 jobs. The number of jobs in the industry hit 207,000, which is the most since 2000.

More than 11% more money was made each year in salaries, bonuses, and stock awards, bringing the average to $561,770, which is five times the average in the private sector in the city.The bonus pool was over $49 billion, which is 6% more than the previous year. Each employee got an average bonus of $247,000.

The city is expecting a 20% cut, but the bonus pool is likely to go up for the year.Members of the New York Stock Exchange spent about 19% more on wages for their employees.

In 2024, DiNapoli’s office said that 8% of jobs in New York City were in the finance business.Wall Street made up 19% of New York City’s GDP in 2024.

The financial markets were busy, which helped City Hall.

The study predicted that the securities business would add $8 billion to the city’s budget for fiscal year 2026, which is 16% more than the previous year.
The Run of the Bulls Conflict, tight private credit, rising interest rates, and inflation have all hurt the financial markets. But buyers haven’t cared about these worries, which is why U.S. stocks have reached all-time highs.

The S&P 500 and the Nasdaq Composite Index, which is heavy on tech stocks, both set new records on Oct. 6. The Dow Jones Industrial Average is down from its high point for the year but still wants to reach 52,000. Strong economic conditions and earnings have kept the stock market going.

In the fourth quarter, the stock market will be put to the test more, with the midterm elections and corporate earnings. CEO of Freedom Capital Markets Jay Woods told The Epoch Times, “As we enter the fourth quarter in this midterm election year, we do so near all-time highs.”

However, optimism is very low, market breadth is very low, oil and bonds are very volatile, and geopolitical worry is still present. He said that October is the most exciting month and the start of a strong bull trend. “The calendar is still on the bulls’ side,” Woods said.

Some things have stayed the same for weeks. Gold got close to $4,200, silver got close to $62, and bitcoin got back to $85,000.