A surge in market volatility linked to the Trump administration’s tariff policy helped power a string of better-than-expected second-quarter results across Wall Street, with trading desks supplying much of the upside. Goldman Sachs, Morgan Stanley and Bank of America each topped analyst forecasts, reinforcing signs that the sector is profiting from brisk client activity in choppy markets. Goldman Sachs led the pack, posting profit of $3.72 billion, or $10.91 a share, on revenue of about $14.5 billion as equities-trading income soared 36% to a record $4.3 billion and lifted return on equity to 12.8%. Morgan Stanley earned $3.5 billion, or $2.13 a share, on revenue of $16.8 billion after a 23% jump in equity-trading revenue to $3.72 billion. Bank of America reported net income of $7.1 billion, or $0.89 a share, on revenue of $26.5 billion, with trading revenue hitting $5.38 billion and net interest income up 7% to $14.7 billion. Regional and custody peers also beat expectations. Bank of New York Mellon exceeded $5 billion in quarterly revenue for the first time, delivering EPS of $1.94 and boosting assets under custody and administration to $55.8 trillion. PNC Financial earned $1.64 billion, or $3.85 a share, on revenue of $5.66 billion, while M&T Bank posted profit of $716 million, or $4.24 a share. Executives said consumer spending and credit quality remain solid and guided to mid-single-digit loan growth for the remainder of the year.