US Big Banks Set for Record Quarter Fuelled by SpaceX IPO and Iran War Volatility

The United States' largest financial institutions — JPMorgan Chase, Goldman Sachs and Bank of America — are heading into their second-quarter 2026 earnings reports with expectations of record revenues. Three key factors are driving the boom: the blockbuster SpaceX IPO, which generated massive fee income for investment banking divisions; heightened market volatility stemming from the Iran military conflict, which allowed trading desks to capitalise on price swings; and a meaningful rebound in commercial and corporate lending. Analysts have labelled current market dynamics a "sweet spot" for Wall Street, where multiple revenue streams are firing simultaneously. For investors in financial stocks, this environment suggests strong potential for dividend growth and share buybacks in the coming quarters.