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Wall Street's Rocketed First Half

Video Credit: Wochit - Duration: 00:33s - Published
Wall Street's Rocketed First Half

Wall Street's Rocketed First Half

New York's securities industry notched its largest first-half profit since 2009 due to sharp increases in trading and underwriting activity, New York State Comptroller Thomas DiNapoli said in a Thursday report.

Pretax profits through the first six months of the year surged 82% to $27.6 billion.

Underwriting revenues hit a record of $10.4 billion in the second quarter.

The first-half performance suggests the securities industry "will be markedly profitable for the year, barring any further unforeseen events," DiNapoli said.


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