Jul 14, 2026 · 8 min
Big banks rally on trading surge as IBM and Lucid plunge
Closing Bell: Big Banks Gain, Lucid Plunges, IBM Drops
The stark divide between soaring bank earnings and historic tech declines reveals how unevenly corporate America is navigating current economic pressures.
- 1JPMorgan, Goldman Sachs, and Bank of America rallied on record equities trading results.
- 2IBM stock plummeted after disappointing preliminary sales triggered its worst trading day in nearly six decades.
- 3Lucid Group plunged to historic lows as restructuring plans failed to quiet bankruptcy rumors.
Don't miss
The post-earnings analysis of IBM's historic single-day stock collapse, marking its worst trading session in nearly sixty years.
The brief
The latest market close highlights a sharp divergence on Wall Street, where blockbuster earnings from major investment banking divisions contrast with historic corporate selloffs and restructuring anxiety.
Wall Street giants JPMorgan Chase, Goldman Sachs, and Bank of America powered a major financial rally, driven by record-breaking performance within their respective equities trading divisions.
In stark contrast, tech and automotive stocks faced severe pressure as IBM suffered its sharpest single-day stock drop in nearly sixty years following disappointing preliminary sales figures.
Meanwhile, luxury electric vehicle maker Lucid Group saw its stock plunge to historic lows amid restructuring efforts and persistent market rumors regarding potential bankruptcy.
With treasury yields adjusting rapidly in the wake of the latest CPI report, investors are closely watching how corporate capital expenditure plans, like Citigroup's tech spending, will hold up.
What was said on this episode
6 statements · 4 positive · 1 negative · 1 mixed
AI demand and client repositioning drove major banks’ trading-desk success.
“AI boom and constant repositioning by clients have driven the the success of some of the biggest trading desks at some of these banks”
Listen at 1:24
JPMorgan achieved its highest quarterly profit ever.
“JP Morgan bagging its highest quarterly profit ever”
Listen at 1:33
Strong AI data-center demand is driving chip-sector momentum.
“strong AI datacenter demand is driving chip momentum”
Listen at 2:34
KeyBanc expects AMD capacity next year to support unit growth above 50%.
“KeyBanc expects AMD capacity next year to support unit growth of more than 50%”
Listen at 2:38
IBM’s preliminary second-quarter sales fell short of expectations.
“The company came out with preliminary second quarter sales. It fell short of expectations.”
Listen at 4:16
Citi’s increased technology spending could reduce headcount in the second half.
“The company's plans to spend more on tech and I could help whittle down headcount in the second half of the year.”
Listen at 4:57
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
Romaine Bostick
Goldman SachsListen to the full episode and explore every guest, topic, and moment on PodLume.