Goldman Sachs equities trading to top $5bn in Q2

Goldman Sachs is on track to generate more than $5 billion in equities trading revenue in the second quarter of 2026. If confirmed, the result would follow $5.3 billion in equities revenue in the first quarter, marking a second consecutive quarter above $5 billion for the business.

Trading volumes remained elevated across cash equities, derivatives and prime brokerage as investors reacted to shifting trade policies, changing interest rate expectations and geopolitical developments that have increased short-term market swings.

Demand for trading services was strong among hedge funds, asset managers and other institutional investors repositioning portfolios. Prime brokerage and financing businesses supported client flows and lending activity that contributed to equities revenue.

Goldman’s trading unit offset slower activity in other parts of the investment bank. The firm reported improving momentum in mergers and acquisitions and in capital markets, which helped revenue across its institutional businesses.

The trading performance is expected to be a key item in the firm’s quarterly results, which are due next month. Investors and analysts will monitor whether elevated trading revenues persist and whether gains in M&A and capital markets help sustain overall net income.