Goldman traders are on pace for a record year

Goldman Sachs is heading toward a record year in trading revenue, driven largely by strong equities activity and sustained market volatility. The bank’s secondquarter results showed equities revenue rising 72% to a record $7.42 billion, while investment banking revenue and fixed income, currencies and commodities trading also beat expectations. In an interview, Goldman executive Kevin Kelly said the firm’s equities business has benefited from years of investment, a broader client strategy, and stronger coordination across its banking, trading, financing, and custody businesses. He said clients have been active in hedging, repositioning portfolios, and responding to shifts in artificial intelligencerelated investing. Kelly also pointed to several supporting factors, including resilient corporate activity, solid consumer demand, and a large AIrelated capital spending cycle. He said Goldman has also expanded its Asia franchise, where retail participation and AI infrastructure spending have increased. While he sees risks ahead, he said the firm is focused on diversifying clients and products rather than trying to predict market direction.