Wall Street banks set to report $40bn trading haul as Iran war rekindles volatility
Five largest US lenders expected to unveil highest combined trading revenues since at least 2014
Five largest US lenders expected to unveil highest combined trading revenues since at least 2014

JPMorgan Chase, Citigroup and Wells Fargo reported more than $25bn of profits for the first quarter

Wall Street stocks have played catch-up with peers as investors sell this year’s winners

US oil group says bulk of impact on first-quarter earnings is accounting issue that will be offset as contracts complete

Volatile markets fuelled by Iran war help to propel proprietary trading firm

Short positions rise sharply as traders eye economic fallout from Iran war

Wall Street bank’s rates desk was key driver behind unexpected drop in fixed-income revenue