Wall Street plays down investor fears of faltering trading boom

Wall Street banks JPMorgan Chase and Goldman Sachs reported strong earnings, driven by robust equities businesses, in the latest quarter.

Both banks saw a significant boost in their trading revenues, with JPMorgan's equity trading revenue up 33% and Goldman Sachs' up 21%.

However, both banks also set aside more money for potential loan losses, reflecting the uncertain economic outlook due to the COVID-19 pandemic.