Goldman Sachs expects a rise in the prices of commodities that Russia is a major producer of and lifted its short-term Brent crude forecast as the West stepped up political and economic sanctions on Moscow for its invasion of Ukraine. “The range of near-term price outcomes for commodities has become extreme, given the concern of…
Goldman Sees Commodities Rally on Russia-Ukraine Crisis, Sanctions
February 28, 2022
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Goldman Sachs Profit Misses Estimates on Weak Equity Trading
Goldman Sachs Group Inc.’s profit fell nearly 13 percent and missed expectations on Tuesday as a less volatile equity market hurt trading business and dampened a bumper year for deals, sending the shares of Wall Street’s premier investment bank down 4 percent. Bank earnings have been hurt this quarter by weak trading volumes as the…
Wall Street Opens Lower as Tech Tumbles, Goldman Sachs Slides
U.S. stock indexes opened lower on Tuesday as technology stocks were slammed by rising Treasury yields, while Goldman Sachs led declines among big banks after missing profit expectations. The Dow Jones Industrial Average fell 250.05 points, or 0.70 percent, at the open to 35,661.76. The S&P 500 opened lower by 30.61 points, or 0.66 percent,…
Goldman Declares US Economy Dead
Commentary “Meanwhile, Goldman Sachs economists lowered their forecasts for U.S. economic growth in 2022 after Mr. Manchin’s comments regarding the president’s social-spending bill. Goldman wrote in a Sunday note that the bill’s apparent demise ‘has negative implications for near-term consumption.’ They cited the likely end of the expanded child tax credit, which has helped prop…
Fed to Kick Off Faster Tapering Plan From January: Goldman Sachs
November 25, 2021
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LONDON—The U.S. Federal Reserve will likely double the pace of tapering its monthly bond purchases from January to $30 billion, and wind down its pandemic-era bond buying scheme by mid-March, Goldman Sachs strategists said in a daily note on Thursday. “The increased openness to accelerating the taper pace likely reflects both somewhat higher-than-expected inflation over…
Fed Terminates 2016 Enforcement Action Against Goldman Sachs for Confidential Data Misuse
WASHINGTON—The U.S. Federal Reserve announced Tuesday it had terminated a 2016 enforcement action against Goldman Sachs, which had been imposed over misuse of confidential data. The consent order, directed alongside a $36.3 million fine, required the bank to submit a plan to strengthen policies, after a former employee illegally obtained documents from a friend at…
Goldman Sachs Forecasts Modest Rise for S&P 500 Index in 2022
November 16, 2021
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Goldman Sachs expects the S&P 500 index to rise by a more modest 9 percent by the end of next year, saying the record-setting rally is likely to cool on worries over slowing economic growth and the prospects of higher interest rates. The U.S. equities market has been on a tear this year, with the…
Goldman Flags Archegos-Related Lawsuits as Potential Legal Risks
November 1, 2021
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Goldman Sachs Group Inc. said it had been sued for alleged insider trading related to the Archegos meltdown earlier this year, flagging the lawsuits as potential legal risks in a filing on Monday. The lawsuits were filed by shareholders of three companies—Vipshop Holdings Ltd, GSX Techedu Inc., and Tencent Music Entertainment Group—and accuse the bank…
Goldman Sees Upside Risks to $90/Bbl Brent Price Forecast
Goldman Sachs said a strong rebound in global oil demand could push Brent crude oil prices above its year-end forecast of $90 per barrel. The U.S. investment bank said it expected oil demand will shortly reach pre-COVID-19 levels of around 100 million barrels per day (bpd) as consumption in Asia rebounds after the Delta COVID-19…
Wall Street Ends Up With Goldman; Dow Posts Biggest Weekly Rise Since June
October 16, 2021
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NEW YORK—U.S. stocks rose on Friday and the Dow scored its biggest weekly percentage gain since June, as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks. Goldman Sachs Group shares jumped 3.8 percent and gave the Dow its biggest boost, as a record wave of dealmaking activity drove a…
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