Wall Street firms have been racking up profits despite the market turbulence caused by uncertainty about the U.S. economy and President Donald Trump’s embrace of tariffs on imported goods.

The pre-tax profits of securities firms in New York City rose nearly 31% in the first half of this year compared with the same period in 2024. The increase was fueled primarily by trading activity, state Comptroller Thomas P. DiNapoli reported Thursday.

Profits for the January-through-June period totaled $30.4 billion and may end the year above $60 billion. They totaled $23.2 billion for the first half of last year , according to the report from DiNapoli's office.

The profits of broker/dealer firms help to determine the year-end bonuses paid to their employees, more than 14,300 of whom commute

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