Wall Street’s First Half 2024
Profits Total $23.2 Billion
Wall Street’s $23.2 billion in pretax profits for the first half of 2024 were a dramatic 79.3% increase over the same period last year and buoyed by securities trading, underwriting, and other activities. Annual profits are currently on track to close out the year much stronger than 2023, according to State Comptroller DiNapoli’s annual report examining the performance of New York City’s securities industry.
“After record years during the pandemic, Wall Street’s profits were more in line with pre-pandemic levels in 2022 and 2023,” DiNapoli said. “This year has been very strong so far and profits may continue their upward trajectory, to exceed 2023 levels and boost State and City tax revenues. Still, there are many international and domestic uncertainties that pose risks to the industry in the final months of 2024 that my office will be monitoring closely.”
State Comptroller DiNapoli recently attended the Civil Service Employees Association (CSEA) delegates meeting in New York City and the Retired Public Employees Association’s (RPEA) annual meeting in Averill Park, NY.
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