America’s six biggest banks are set to report second-quarter 2026 earnings this week, with analysts expecting strong results from investment banking, trading, commercial lending and consumer finance, according to a CNBC report published July 13.
JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and Goldman Sachs are scheduled to release second-quarter results before the market opens on Tuesday. Morgan Stanley is due a day later, on Wednesday.
Investment banking and trading are expected to lead the quarter
KBW analyst Chris McGratty said investment banking revenue on Wall Street could climb 26% from a year earlier, while total trading revenue could rise 14%.
Wells Fargo senior banking analyst Mike Mayo said the industry is in a rare “sweet spot,” with capital markets businesses such as investment banking and trading expanding at the same time as commercial and consumer lending operations.
SpaceX IPO and Iran-linked volatility are in focus
CNBC said two main catalysts are behind the quarter’s momentum: SpaceX’s IPO and market volatility tied to the conflict involving Iran.
The report described the SpaceX listing as one of the largest IPOs ever. It said the deal created direct underwriting fees, follow-on debt financing opportunities, and soft-dollar revenue for banks involved in the offering, including Goldman Sachs and Morgan Stanley.
At the same time, swings in crude oil, interest rate and foreign exchange markets linked to the conflict helped lift trading volumes in equities and fixed income.
AI spending and steady consumer credit add support
On the lending side, the report said spending by AI-related companies on infrastructure and equipment has helped drive a noticeable rebound in commercial loan demand. It also said traditional banks are regaining some ground against private credit lenders, a trend seen as particularly helpful for regional banks such as Fifth Third.
Consumer credit has also remained stable. Despite concerns that high interest rates could weaken households, delinquencies on mortgages, auto loans and credit cards have stayed at relatively low levels as U.S. unemployment remains low.
Management outlook is likely to be the key watchpoint
The report added that financial deregulation under President Donald Trump has created a friendlier operating backdrop for banks and helped U.S. financial stocks outperform the broader market for two straight years.
Still, analysts flagged risks, including potential defaults in private credit and rising funding costs as banks compete more aggressively for deposits, which could squeeze net interest margins. As a result, investors are expected to focus not only on second-quarter results, but also on what bank CEOs say about the second half of 2026 and 2027.