-0.23% to $891.91 from $893.95
What moved GS
- Equities trading revenue surged 72% year over year to $6.44 billion, well above the roughly $5.09 billion analysts had expected.
- Diluted earnings per share of $17.01 and net revenue of $18.68 billion both topped consensus estimates for the quarter.
- Shares jumped as much as 3% to 4.5% in premarket trading on the results, though the rally cooled as the session progressed.
- Fixed income trading revenue was comparatively flat and missed estimates, a contrast to the strength in equities.
Sources: Benzinga · GuruFocus · Yahoo Finance
-3.96% to $937.98 from $976.67
What moved GS
- The Federal Reserve raised its benchmark rate a quarter point in a unanimous decision, its first hike since 2023, with Chair Kevin Warsh citing persistent inflation risk.
- Goldman Sachs led Dow decliners as Wells Fargo, Bank of America and Citigroup all fell more than 3% alongside it.
- The SPDR S&P Bank ETF had its worst session since late February as investors weighed the prospect of additional rate hikes.
- The 10-year Treasury yield climbed to its highest level since 2007 after the decision, and the dollar posted its best day since June.
Sources: CNN Business · CNBC
+2.18% to $1058.88 from $1036.28
What moved GS
- The Financials Select Sector SPDR (XLF) rose 1.3%, the best-performing S&P sector Tuesday, as investors rotated into rate- and credit-sensitive names.
- Goldman shares climbed on expectations that trading and advisory desks will benefit from an AI-driven Wall Street rally, with investment-banking revenue for the group seen rising as much as 26% from a year earlier.
Sources: Yahoo Finance · Kalkine Media