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SpaceX plan boosts Wall Street banks' profits in the second quarter
Reports indicated that SpaceX's IPO led to increased sales volume and trading activity in the market, boosting the profits of major Wall Street banks during the second quarter of 2026, especially with the growth in fee revenues from merger and acquisition deals. Banks expect market revenues to remain high, growing by 15% year-over-year, and for their profits to exceed $500 million from managing SpaceX's $86 billion offering. Additionally, global investment banking revenues rose by 24% in the first half of 2026, driven by continued demand for financing and expanding margins based on current economic growth.
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