Issue No. 2   •   July 2026

WEEKLY WISDOM   

Record Results

Across America's Largest Banks

STEPHANIE LINK    •    CHIEF INVESTMENT STRATEGIST, HIGHTOWER ADVISORS

America's six largest banks delivered one of the strongest quarters in recent years, reporting earnings that were higher than analyst forecasts as capital markets activity accelerated, trading revenues reached record levels, and lending businesses remained healthy. Management teams consistently pointed to resilient consumer spending, improving corporate confidence, and growing business investment as key drivers of performance. As financial institutions sit at the center of economic activity, these results provide a strong signal that both consumers and businesses remain on solid footing.

A major theme of the quarter was the reopening of capital markets. Investment banking activity strengthened across mergers and acquisitions, equity issuance, and debt financing, while equities trading produced historic results. Goldman Sachs reported a record $7.4 billion in equities trading revenue, JPMorgan's equities business grew 86% year over year, and several peers posted similar gains as institutional clients increased activity amid market volatility and improving economic conditions. Banks also highlighted growing demand tied to artificial intelligence infrastructure investments, creating new opportunities across technology, energy, industrials, utilities, and real estate sectors.

Beyond capital markets, traditional banking operations remained strong. Loan growth continued, net interest income exceeded expectations at several banks, and credit quality remained healthy despite elevated interest rates. The Federal Reserve's annual stress test further reinforced the industry's financial strength, showing major banks could absorb more than $700 billion in losses under a severe recession scenario. Combined with increased dividends and share repurchase programs, the quarter's results suggest a favorable outlook for both the banking sector and the broader U.S. economy heading into the second half of the year.

THREE QUESTIONS TO ASK YOUR ADVISOR

— With capital markets activity, IPOs, and M&A transactions accelerating, are there sectors or investment themes in my portfolio that could benefit from a more active deal-making environment?

— Banks are reporting healthy consumer spending, strong loan growth, and improving business confidence. Does this change how we should think about economic risks and opportunities in my portfolio over the next 12 months?

— As AI infrastructure spending expands across technology, energy, utilities, industrials, and real estate, am I adequately positioned to participate in this long-term investment trend?

LESSONS FOR NAVIGATING ADULTHOOD

More Than Money

Create a Future with Confidence

SHANNON STEVENS    •    MANAGING DIRECTOR, HTSW DOWNERS GROVE

As a mother, I know the journey from childhood to adulthood can seem to happen in the blink of an eye. As young adults gain independence and begin charting their own path, they face new opportunities, challenges, and responsibilities that will shape the lives they build.

While financial fundamentals remain essential, a fulfilling life requires more than just managing money. From cultivating healthy habits and meaningful relationships to pursuing career growth and dreaming big, these insights capture some of the lessons that can help guide young adults as they navigate the road ahead.

Explore 11 lessons for navigating adulthood with confidence and purpose.

From Playing Middleman

to One Connected Team

ALEXANDRA BENAS  •  BUSINESS DEVELOPMENT MANAGER, HTSW WESTPORT

Many of us have experienced a moment when important financial decisions involved more than just money, they required coordinating attorneys, accountants, advisors, and family members. Alexandra Benas' perspective is about helping families move from managing disconnected conversations to benefiting from one coordinated strategy. Here, she shares how bringing the right professionals together can reduce complexity, uncover blind spots, and help every decision move in the same direction.

OWN YOUR WEALTH

Helping families bring their advisor, attorney, and accountant together into one coordinated team.

02

Build the right team – fill the gaps, make the right introductions, and surround yourself with the professionals your situation requires.

03

Keep everyone aligned – coordinate conversations, surface potential blind spots, and help to ensure each professional's advice supports one shared strategy.

VIRTUAL EVENT SERIES

The Rise of Women's Sports:

A Conversation with US Squash CEO
Mollie Marcoux Samaan

Join us on August 4 at 2:00 PM ET / 1:00 PM CT for our Signature Women event featuring Mollie Marcoux Samaan, CEO of US Squash and former LPGA Commissioner, in conversation with Jenn Anderson, CMO at Hightower Advisors.

Together, they will explore the rise of women's sports, from increased investment and media visibility to growing global audiences, and what this momentum means for athletes, brands, and the future of the industry.

TUESDAY, AUGUST 4, 2026   |   2:00 PM ET / 1:00 PM CT

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WHAT WE'RE READING, WATCHING & RECOMMENDING • SHOP FOR GOOD

The Worthy Co.

This month, we're hightlighting a company that beautifully blends purpose and craftsmanship. The Worthy Co. offers thoughtfully designed candles, jewelry, gifts, and home décor, with every purchase supporting employment and job training opportunities for women overcoming trafficking, prostitution, and addiction.

We love finding brands that make it easy to give meaningful gifts while making a meaningful impact. The Worthy Co. is a reminder that even small purchases can help create lasting change. Explore their collection and mission.

Pass it on.

Know a friend, colleague, or daughter who would enjoy this perspective? We encourage you to forward this newsletter or invite her to join you at an upcoming event. Great conversations are even better when shared.

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