Wall Street firms set for record profits and likely bonuses

Business Oct 06, 2026

Wall Street is set to smash records with more than $90 billion in profits this year, way up from the old high of $65.1 billion.

Thanks to busy trading floors and a surge in deal-making, big firms are reporting higher earnings, and yes, that probably means some hefty bonuses too.

Securities industry boosts New York budget

This boom is giving New York's economy a real lift: the securities industry just added at least $26.3 billion to the New York state budget for fiscal 2025-'26, through business and personal income taxes (that's up nearly 29% from a year earlier), and thousands of new jobs are expected.

But there's a heads-up from State Comptroller Thomas DiNapoli: he points out that risks like global conflicts, inflation, and AI could shake things up down the road.