SpaceX $86B IPO to Boost Wall Street Banks' Q2 Earnings; Major Lenders Report July 14-15

Major U.S. banks—JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley—are set to report Q2 2026 earnings on July 14-15, according to LSEG data. Analysts expect a significant earnings boost driven by SpaceX's nearly $86 billion IPO and related capital markets activity. SpaceX's IPO is estimated to generate approximately $500 million in underwriting fees for lead banks, while equity trading and investment banking revenues are projected to rise at least 15% year-over-year. Goldman Sachs and Morgan Stanley are positioned to outperform peers given their deep involvement in the SpaceX transaction. Additionally, Cerebras' $6.4 billion IPO and Alphabet's $85 billion stock offering further elevated Q2 investment banking income, with global investment banking revenues reaching $61.4 billion in the first half of 2026, up 24% versus year-ago.
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