Bank of America expects a significant boost to second-quarter earnings following a surge in sales and trading.
A Reuters analysis identifies the major SpaceX IPO as a partial driver for this growth across major U.S. banks. The company will officially report its financial results on July 14.
Co-President Jim DeMare indicated in June that the bank may exceed its 15% growth forecast for markets revenue. The equities business serves as a primary driver for this potential outperformance. Solid M&A advisory fees and accelerated loan growth further support the positive sector outlook.