ALBANY, N.Y. (AP) — New York’s comptroller says Wall Street profits are near record levels despite job losses in the industry.
Wall Street brought in $31 billion in pre-tax earnings in the first six months of 2021, according to State Comptroller Thomas DiNapoli. The comptroller looked at the roughly 125 broker and dealer firms that are members of the New York Stock Exchange.
The industry reached a record breaking $61.4 billion in 2009.
DiNapoli said Wall Street’s surging profits may be fueled by record low interest rates, strong trading volume, record earnings in the global equities sector and high revenues