Markets

Stocks could stumble in early 2021 as investor sentiment surges past market fundamentals, Goldman Sachs says

Goldman Sachs’ Sentiment Indicator — which measures how far stock prices are outpacing fundamentals — climbed to two standard deviations above its average on Friday, signalling heightened risk of near-term market weakness. Rising COVID-19 hospitalizations and weak economic data add to the odds of “a modest positioning driven pullback in […]
Stocks could stumble in early 2021 as investor sentiment surges past market fundamentals, Goldman Sachs says
Markets

A Democratic sweep could have a ‘modestly positive’ impact on corporate earnings, Goldman Sachs says

A Democratic sweep in November could yield unexpected benefits for corporate profitability and stock investors,Goldman Sachs said Tuesday. Strategists led by David Kostin see “a modestly positive net impact” pushing S&P 500 earnings higher should Democrats take control of the government. Boosted fiscal spending would drive economic growth and “help […]
A Democratic sweep could have a ‘modestly positive’ impact on corporate earnings, Goldman Sachs says
Markets

Goldman Sachs cuts quarterly profit by 91% after $3.9 billion 1MDB settlement

Goldman Sachs restated earnings on Friday that included a $US2 billion boost to litigation reserves related to its 1MDB settlement. The bolstered legal provisions cut Goldman’s second-quarter profit to $US373 million from $US2.4 billion. The bank agreed in late July to pay $US2.5 billion in penalties and return $US1.4 billion […]
Goldman Sachs cuts quarterly profit by 91% after $3.9 billion 1MDB settlement
Markets

Goldman Sachs’ 2nd-quarter earnings beat estimates as trading desks drive revenue spike

Goldman Sachs reported second-quarter earnings Wednesday morning that beat analyst estimates for revenue and profit. Quarterly revenue posted its second-highest reading ever as trading businesses surged on heightened market volatility. Loan loss reserves reached $US1.6 billion as the firm braced for credit-market fallout. “Our strong financial performance across our client […]
Goldman Sachs’ 2nd-quarter earnings beat estimates as trading desks drive revenue spike
Markets

Goldman Sachs cuts US GDP estimate, now sees economy shrinking 4.6% in 2020

Goldman Sachs economists lowered their third-quarter US GDP growth forecast to 25% from 33% on Saturday, citing weak consumer services spending and the strong uptick in national coronavirus cases. Reimplementation of strict lockdowns and social distancing practices in states including California, Florida, and Texas are “already having a noticeable impact […]
Goldman Sachs cuts US GDP estimate, now sees economy shrinking 4.6% in 2020
Markets

Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade

Green-energy investing will account for 25% of all energy spending in 2021 and, for the first time ever, surpass spending on traditional fuel sources like oil and gas, Goldman Sachs said in a Tuesday note. Should the US aim to hold global warming within 2 degrees Celsius, the pivot to […]
Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade