Dernières nouvelles pour Goldman Sachs Group (NYSE:GS) Stock

Goldman Sachs Group

Goldman Sachs Gr

Goldman Sachs is a storied financial institution, founded in 1869 and best known for its role as a leading global investment bank. The firm has a sprawling reach across global financial centers and has been the leading provider of global merger and acquisition advisory services, by revenue, for the past 20 years. Since the global financial crisis, Goldman has expanded its offerings into more stable fee-based businesses like asset and wealth management, which comprised roughly 30% of post-provision revenue at the end of 2024. The bank holding company generates revenue from investment banking, global market making and trading, lending, asset management, wealth management, and a small and declining portfolio of consumer credit card loans.

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La Bourse a tendance à offrir des gains bien documentés au cours des derniers jours de négociation de décembre, un phénomène connu sous le nom de &#34;rallye du père Noël&#34;. 



Cette période d&#39;optimisme a historiquement

Rallye du Père Noël : 10 actions du S&amp;P 500 qui surperformant de manière constante pendant l&#39;optimisme de fin d&#39;année

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Goldman Sachs Group, Inc. (The) Depositary Shares each representing 1/1000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock Series A

Goldman Sachs Group, Inc. (The) Depositary Share repstg 1/1000th Preferred Series C

Goldman Sachs Group, Inc. (The) Dep Shs repstg 1/1000 Pfd Ser D Fltg

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has revamped the leadership of its internal research group, responsible for quantum computing and other advanced technologies. The bank has appointed a former State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) executive to lead the team.
What Happened: Marco Pistoia, the former head of JPMorgan&#8217;s applied research group, has left the bank, as per a CNBC report <a href="https://www.cnbc.com/2025/07/21/jpmorgan-quantum-computing-leadership-state-street-exec.html">on</a> Monday.
Pistoia, a former International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) inventor, was instrumental in the group&#8217;s research into emerging technologies such as quantum computing, blockchain, and computer vision, among others.
The bank has replaced Pistoia with Rob Otter, the global head of digital technology and quantum computing at State Street. Otter, who previously led JPMorgan&#8217;s Onyx blockchain business, has a wealth of experience in the technology sector, having held roles at Barclays PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>), Credit Suisse, and Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>).
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46521555/shiba-inu-surges-37-in-1-month-how-high-can-the-shib-price-go" target="_blank" rel="noopener">Shiba Inu Surges 37% In 1 Month: How High Can The SHIB Price Go?</a>
Charles Lim, another key figure in the research group as the bank&#8217;s global head for quantum communications and cryptography, has also left JPMorgan.
Why It Matters: Quantum computing is a rapidly evolving field with potential applications in various industries, including finance, drug development, and materials science.
The technology is expected to revolutionize the way complex problems are solved, with industry leaders like Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and IBM racing to develop commercial quantum computers.
Earlier this year, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) also made a significant move in the <a href="https://www.benzinga.com/25/02/43830761/microsoft-unveils-majorana-1-quantum-chip-races-against-google-and-nvidia-in-quantum-computing">quantum computing space</a>, unveiling its Majorana 1 quantum chip. The company&#8217;s CEO, Satya Nadella, has highlighted the potential of quantum computing <a href="https://www.benzinga.com/markets/tech/25/06/46111393/ai-is-already-speeding-up-discoveries-in-chemistry-and-physics-but-satya-nadella-says-the-real-breakthrough-will-come-when-we-add-quantum-computing-to-the-mix">as the next game-changer</a> in scientific breakthroughs.
In June 2025, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang <a href="https://www.benzinga.com/markets/tech/25/06/45885805/nvidias-jensen-huang-sparks-quantum-stock-frenzy">reversed his earlier skepticism</a> on quantum computing, now saying the technology is nearing a breakthrough and will soon tackle real-world problems beyond the reach of traditional computers.
Huang called quantum computing an &#8220;inflection point&#8221; and revealed that Nvidia is releasing a quantum algorithm stack for its advanced Grace Blackwell 200 chip. His optimism sparked a rally in quantum stocks, marking a sharp contrast to his January comments, when he predicted practical quantum applications were still decades away.
Price Action: JPMorgan Chase shares were up 0.17% at $291.47 in Tuesday's pre-market trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Live On CNBC, Amy Raskin Announces Trimmed Goldman Sachs Position

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reported second-quarter results that beat analyst expectations on Wednesday, boosted by robust gains in its global banking and <a href="https://www.benzinga.com/quote/gs/earnings">trading divisions</a>.
Net revenue rose 15% year over year to $14.58 billion, topping the consensus estimate of $13.36 billion, though it declined 3% from the prior quarter.
GAAP earnings came in at $10.91 per share, up from $8.62 a year ago and above the $9.48 consensus. First-half EPS rose to $25.07 from $20.21 a year earlier.
David Solomon, Chairman and CEO of Goldman Sachs, commented, &#8220;At this time, the economy and markets are generally responding positively to the evolving policy environment. But as developments rarely unfold in a straight line, we remain very focused on risk management. Given the strategic decisions and investments we&#8217;ve made, we continue to believe that the firm is well-positioned to perform for our shareholders.&#8221;
Goldman Sachs shares slipped 0.2% to trade at $706.80 on Thursday.
These analysts made changes to their price targets on Goldman Sachs following earnings announcement.
<ul class="wp-block-list">
<li>Keefe, Bruyette &amp; Woods analyst David Konrad maintained Goldman Sachs Group with a Market Perform and raised the price target from $771 to $790.</li>
<li>Morgan Stanley analyst Betsy Graseck maintained the stock with an Equal-Weight rating and raised the price target from $680 to $715.</li>
</ul>
Considering buying GS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="595" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/17093548/image-226-1024x595.png" alt="" class="wp-image-989805" style="width:601px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/17093548/image-226-1024x595.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/17093548/image-226-300x174.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/17093548/image-226-768x447.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/17093548/image-226.png 1135w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Earnings

Price Target

Analyst Ratings

These Analysts Boost Their Forecasts On Goldman Sachs After Better-Than-Expected Earnings

Morgan Stanley analyst Betsy Graseck maintains Goldman Sachs Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) with a Equal-Weight and raises the price target from $680 to $715.

Morgan Stanley Maintains Equal-Weight on Goldman Sachs Group, Raises Price Target to $715

Keefe, Bruyette &amp; Woods analyst David Konrad maintains Goldman Sachs Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) with a Market Perform and raises the price target from $771 to $790.

Keefe, Bruyette & Woods Maintains Market Perform on Goldman Sachs Group, Raises Price Target to $790

U.S. stock futures were swinging between gains and losses on Thursday after ending higher on Wednesday. Futures of major benchmark indices were mixed.
Reports that President Donald Trump might be <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46454852/trump-fed-powell-odds-inflation-markets">getting ready to remove</a> Federal Reserve Chair Jerome Powell from his position have sparked fears about the Fed&#8217;s independence. These concerns led to a widespread rush into gold and a sell-off of the U.S. dollar.
Investors await Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) earnings and June&#8217;s retail sales data, scheduled to be released later today.
Meanwhile, the 10-year Treasury bond yielded 4.47% and the two-year bond was at 3.91%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 97.4% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.02%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.09%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.23%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were slightly higher in premarket on Thursday. The SPY was up 0.075% at $624.69, while the QQQ advanced 0.17% to $558.23, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Financial, real estate, and healthcare sectors led gains on Wednesday, contributing to a higher close for U.S. stocks. However, energy and communication services bucked the trend, finishing lower.
Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reported better-than-expected second-quarter results, driven by robust gains in its global banking and trading divisions. Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) also posted strong second-quarter financial earnings.
On the economic data front, the Producer Price Index was flat in June, down from a 0.3% gain in May and below the 0.2% consensus forecast. On a year-over-year basis, producer prices rose 2.3%, the slowest pace since September 2024 and softer than the 2.5% economists had expected.
The Dow Jones index ended 231 points or 0.53% higher at 44,254.78, whereas the S&amp;P 500 index rose 0.32% to 6,263.70. Nasdaq Composite advanced 0.25% to 20,730.49, and the small-cap gauge, Russell 2000, also gained 0.99% to end at 2,226.98.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.25%</td>
<td>20,730.49</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.32%</td>
<td>6,263.70</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.53%</td>
<td>44,254.78</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.99%</td>
<td>2,226.98</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
While the <a href="https://www.benzinga.com/markets/economic-data/25/07/46461053/federal-reserves-beige-book-reveals-tariff-driven-profit-squeeze-as-businesses-avoid-price-hikes-what-it-means-for-consumers">Fed&#8217;s Beige Book</a>, released Wednesday, stated that businesses that did not raise prices or pass on the impact of tariffs to their customers are likely to take a hit on their profit margins.
Jeffrey Roach, the chief economist at LPL Financial, told <a href="https://www.benzinga.com">Benzinga</a> that "Investors should expect margin compression as businesses held off raising prices because of customers' growing price sensitivity."
Roach's macro quicktake was that Beige Book reveals "heavier margin compression" in the coming months, cautioning the investors and consumers.
&#8220;We&#8217;re hearing from a lot of businesses that a lot of companies are going to absorb tariffs in their margins over time, maybe three to five years in some cases, and slowly pass the costs along,&#8221; said Alex Coffey, senior trading and derivatives strategist at Schwab.
Meanwhile, Louis Navellier of Navellier &amp; Associates supported Trump calling out Powell and said &#8220;Obviously, President Trump will continue to bash Fed Chairman Jerome Powell and push for multiple key interest rate cuts, since higher rates are hindering real estate and other major sectors of the U.S. economy.&#8221;
Angelo Kourkafas, of Edward Jones, stated that earnings growth for the S&amp;P 500 is expected to slow in the second quarter to around 5% from the more than 10% in the prior two quarters.
However, he said that for the full year, estimates call for 8.5% growth, which, if realized, would be above the index&#8217;s long-term average of 6.5%.
&#8220;Lingering uncertainties suggest that there could be some more volatility around these expectations, but next year&#8217;s backdrop appears to be more favorable, as corporate profits may reaccelerate amid lower rates and modest fiscal stimulus from the tax bill,&#8221; he added.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul class="wp-block-list">
<li>The initial jobless claims data for the week ended July 5, June retail sales, import price index, and Philadelphia Fed manufacturing survey will all be out by 8:30 a.m. ET.</li>
<li>May&#8217;s business inventories data and July&#8217;s home builder confidence index data will be out by 10:00 a.m. ET.</li>
<li>Fed Governor Adriana Kugler will speak at 10:00 a.m., San Francisco Fed President Mary Daly will speak at 12:45 p.m., Fed Governor Lisa Cook will speak at 1:30 p.m., and Fed Governor Christopher Waller will speak at 6:30 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) was up 0.36% in premarket on Thursday as analysts expect it to report earnings of $7.06 per share on revenue of $11.04 billion after the closing bell.</li>
<li>PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) was 0.33% above the flatline as it is expected to report earnings before the opening bell. Analysts estimate earnings of $2.03 per share on revenue of $22.29 billion.</li>
<li>Kopin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOPN#NASDAQ">KOPN</a>) jumped 7.73% following the establishment of its comprehensive Environmental, Social, and Governance (ESG) framework.</li>
<li>Crown LNG Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) plummeted 55.26% after it received a letter from NASDAQ on Tuesday, notifying the company of its noncompliance with Nasdaq Listing Rules 5250(c)(1) and 5550(a)(2), according to a SEC Filing.</li>
<li>22nd Century Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) surged 172.27% following the company's announcement of expanding partnerships for its VLN-based reduced nicotine content products, according to a company statement.</li>
<li>Taiwan Semiconductor Manufacturing Co. Ltd. (YSE: TSM) advanced 4.50% net revenue in the June quarter, rising 38.65% from a year ago to NT$933.80 billion or $31.7 billion, beating estimates.</li>
<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) gained 4.17% after reporting stronger-than-expected earnings for the fourth quarter. The quarterly earnings of $1.16 per share exceeded the analyst consensus estimate of $1.01 per share.</li>
<li>United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) declined 2.94% despite posting better-than-expected earnings for the second quarter, but it lowered its full-year 2025 earnings outlook. Also, the company&#8217;s sales missed market expectations.</li>
<li>General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) was 1.06% higher as analysts expect it to report earnings of $1.41 per share on revenue of $9.52 billion before the opening bell.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.41% to hover around $66.65 per barrel.
Gold Spot US Dollar fell 0.48% to hover around $3,331.59 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.24% at the 98.6320 level.
Asian markets ended mostly higher on Thursday except India's S&amp;P BSE Sensex and Hong Kong's Hang Seng indices. Japan's Nikkei 225, Australia's ASX 200, China&#8217;s CSI 300, and South Korea's Kospi indices rose. European markets were mostly higher in early trade.
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US Stocks Likely To Open On A Mixed Note: Netflix, PepsiCo, TSM Earnings In Focus

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the Dow Jones index gaining more than 200 points during the session.
Reports circulated that President Donald Trump may be preparing to remove Federal Reserve Chair Jerome Powell from his post. The rumors sparked fears over the Fed&#8217;s independence, triggering a broad flight to gold and a sell-off in the U.S. dollar.
Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reported second-quarter results that beat analyst expectations, boosted by robust gains in its global banking and trading divisions. Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) posted better-than-expected second-quarter financial earnings.
On the economic data front, the Producer Price Index was flat in June, down from a 0.3% gain in May and below the 0.2% consensus forecast. On a year-over-year basis, producer prices rose 2.3%, the slowest pace since September 2024 and softer than the 2.5% economists had expected.
Most sectors on the S&amp;P 500 closed on a positive note, with financial, real estate and health care stocks recording the biggest gains on Wednesday. However, energy and communication services stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by 231 points to 44,254.78 on Wednesday. The S&amp;P 500 rose 0.32% to 6,263.70, while the Nasdaq Composite gained 0.25% to 20,730.49 during Wednesday's session.
Investors are awaiting earnings results from PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>), GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 73.9, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 73.7.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/07/46451165/travelers-likely-to-report-higher-q2-earnings-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Travelers Likely To Report Higher Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>
Photo via Shutterstock

Pre-Market Outlook

Dow Gains Over 200 Points Amid Upbeat Earnings: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Volatility surged across interest rate-sensitive assets Wednesday after reports circulated that President Donald Trump may be preparing to remove Federal Reserve Chair Jerome <a href="https://www.benzinga.com/markets/economic-data/25/07/46430675/trump-powell-june-inflation-fed-rate-cuts">Powell from his post.</a> The rumors sparked fears over the Fed's independence, triggering a broad flight to gold and a sell-off in the U.S. dollar.
While Wall Street was mostly flat during midday trading in New York, traders were on edge, digesting the potential implications of a leadership shake-up at the central bank. Speculators are already positioning for a more dovish monetary path, anticipating that Powell&#8217;s possible ouster could accelerate future interest rate cuts.
Gold prices jumped sharply, soaring from $3,325 to over $3,377 per ounce within minutes before paring gains to around $3,350.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied 1.2% to $119,000, benefiting from dollar weakness and renewed demand for decentralized assets.
The U.S. dollar index fell 0.3%, on track to snap a four-day winning streak. At the same time, Treasury yields edged slightly lower as bond traders priced in increased political and monetary policy uncertainty.
Economic data released Wednesday added fuel to the rate-cut narrative. The <a href="https://www.benzinga.com/markets/economic-data/25/07/46440481/producer-prices-rise-less-than-expected-inflation">Producer Price Index was flat in June</a>, down from a 0.3% gain in May and below the 0.2% consensus forecast. On a year-over-year basis, producer prices rose 2.3%, the slowest pace since September 2024 and softer than the 2.5% economists had expected.
Core PPI, which excludes volatile food and energy prices, was also unchanged in June. The annual rate dropped to 2.6% from a revised 3.2% in May, falling short of the 2.7% consensus.
<h2 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,212.86</td>
<td>+0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,089.92</td>
<td>+0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,246.61</td>
<td>+0.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>22,845.74</td>
<td>-0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:44 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) flattened at $571.60.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.1% up to $440.42.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;dropped 0.3% to $555.24.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.2% to $219.37.</li>
<li>The&nbsp;Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up 1%; the&nbsp;Materials&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 0.8%.</li>
</ul>
<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h2>
<ul class="wp-block-list">
<li>Shares of major banks were mixed despite beating earnings expectations, with Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) finishing flat, Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) slipping 1.4% and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) falling 2.8%.</li>
<li>Other stocks reacting to earnings report included Progressive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) up 1.55%, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) up 6.7%, Prologis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) up 1.9% and Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) up 0.4%.</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) surged 13% after Jefferies raised its price target to $35 from $29.</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/real-estate/25/07/46448654/real-estate-stocks-sp500-interest-rates">Cheaper Than 2008—Is This Wall Street&#8217;s Forgotten Sector A Screaming &#8216;Buy&#8217;?</a></li>
</ul>
Photo: Shutterstock

Government

Large Cap

Macro Economic Events

Broad U.S. Equity ETFs

Econ #s

Economics

Federal Reserve

ETFs

$BTC

SPDR Dow Jones Industrial Average ETF Trust

Gold, Bitcoin Surge As Trump Eyes Powell Ouster: What's Moving Markets Wednesday?

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 100 points on Wednesday.
The Dow traded up 0.25% to 44,133.80 while the NASDAQ rose 0.09% to 20,696.02. The S&amp;P 500 also rose, gaining, 0.12% to 6,251.54.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/dividends/25/07/46413798/morgan-stanley-how-to-earn-500-a-month-from-q2-earnings">How To Earn $500 A Month From Morgan Stanley Stock Ahead Of Q2 Earnings</a>
Leading and Lagging Sectors Health care shares jumped by 1.2% on Wednesday.
In trading on Wednesday, energy stocks dipped by 0.3%.
Top Headline
Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reported second-quarter results that beat analyst expectations, boosted by robust gains in its global banking and trading divisions.
Net revenue rose 15% year over year to $14.58 billion, topping the consensus estimate of $13.36 billion, though it declined 3% from the prior quarter.
GAAP earnings came in at $10.91 per share, up from $8.62 a year ago and above the $9.48 consensus. First-half EPS rose to $25.07 from $20.21 a year earlier.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul class="wp-block-list">
<li>Aptorum Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APM#NASDAQ">APM</a>) shares shot up 256% to $3.45 after the company announced it entered into an all-stock merger agreement with DiamiR. DiamiR Biosciences will retain its name and become a wholly-owned subsidiary of Aptorum Group.</li>
<li>Shares of Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) got a boost, surging 121% to $15.25 after the company announced it secured a U.S. patent for an extracorporeal blood filtering machine and methods.</li>
<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) shares were also up, gaining 30% to $16.59 after the company unveiled the industry&#8217;s largest multi-chip quantum computer.</li>
</ul>
Equities Trading DOWN
<ul class="wp-block-list">
<li>Soluna Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNH#NASDAQ">SLNH</a>) shares dropped 28% to $0.5481 after the company announced the pricing of $5 million public offering.</li>
<li>Shares of ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) were down 9% to $748.09 after the company expressed concerns over its 2026 growth prospects.</li>
<li>Onconetix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) was down, falling 22% to $3.5150. Onconetix and Ocuvex Therapeutics announced execution of definitive merger agreement.</li>
</ul>
Commodities In commodity news, oil traded down 0.5% to $66.18 while gold traded up 0.7% at $3,358.70.
Silver traded down 0.1% to $38.085 on Wednesday, while copper fell 0.9% to $5.53.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 slipped 0.57%, while Spain's IBEX 35 Index rose 0.08%. London's FTSE 100 fell 0.13%, Germany's DAX 40 declined 0.21% and France's CAC 40 fell 0.57% during the session.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei falling 0.04%, Hong Kong's Hang Seng falling 0.29%, China's Shanghai Composite falling 0.04% and India's BSE Sensex gaining 0.08%.
Economics
<ul class="wp-block-list">
<li>U.S. crude oil inventories declined by 3.859 million barrels in the week ended July 11.</li>
<li>U.S. industrial production increased by 0.3% in June, topping market estimates of a 0.1% rise.</li>
<li>U.S. producer prices came in unchanged in June from May, compared to a revised 0.3% gain in the previous period.</li>
</ul>
Now Read This: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/07/46440451/nvidia-to-rally-more-than-12-here-are-10-top-analyst-forecasts-for-wednesday">Nvidia To Rally More Than 12%? Here Are 10 Top Analyst Forecasts For Wednesday</a></li>
</ul>
Photo via Shutterstock

Eurozone

Commodities

Intraday Update

Markets

ASML

NUWE

ONCO

RGTI

SLNH

Dow Surges Over 100 Points; Goldman Sachs Posts Upbeat Earnings

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reported a solid second quarter for 2025, with results surpassing analyst estimates. The firm demonstrated strong performance across key segments, including significant contributions from its trading and investment banking operations. This quarter&#8217;s results also saw the company increase its shareholder returns.
JPMorgan analyst Kian Abouhossein reviewed Goldman Sachs Group Inc.&#8216;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)&nbsp;second-quarter 2025 results, <a href="https://www.benzinga.com/quote/GS/analyst-ratings">highlighting</a> a solid earnings beat and strong performance across key segments. 
Goldman <a target="_blank" href="https://www.benzinga.com/markets/earnings/25/07/46442746/goldman-sachs-q2-asset-under-supervision-hit-record-net-interest-income-surges-56" rel="noreferrer noopener">reported</a> earnings of $10.91 per share, surpassing the consensus estimate of $9.48. Revenue rose 15% year over year to $14.58 billion, driven by robust results in trading and investment banking.
Also Read: <a href="https://www.benzinga.com/markets/earnings/25/07/46417779/citigroup-q2-revenue-and-profit-jumps-cfo-says-recession-risk-has-fallen" target="_blank" rel="noreferrer noopener">Citigroup Q2 Revenue And Profit Jumps, CFO Says Recession Risk Has Fallen</a>
Equities revenue surged 36%, and investment banking fees climbed 26%. Net interest income increased 56% to $3.1 billion. Assets under supervision reached a record $3.29 trillion, supported by $5 billion in net inflows.
The firm returned $3.96 billion to shareholders during the quarter and raised its quarterly dividend to $4.00 per share. Return on equity stood at 12.8%, and the Common Equity Tier 1 (CET1) capital ratio was 14.5%.
CEO David Solomon attributed the strong results to solid execution and an ongoing commitment to risk management.
The analyst noted that Goldman Sachs Group Inc. posted earnings 12% above Bloomberg consensus and 29% ahead of JPMorgan estimates. Pre-tax earnings of $4.96 billion exceeded expectations by 27%. Return on tangible equity reached 13.6% for the quarter and 15.8% for the first half of 2025.
According to Kian Abouhossein, a key highlight was equities sales and trading revenue, which jumped 36% year over year to a record $4.3 billion, outperforming peers such as Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) and Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>).
The analyst expects low-to-mid-single-digit EPS upgrades for 2025 and sees Goldman Sachs shares likely outperforming peers.
According to the analyst&#8217;s valuation, Goldman Sachs currently trades at 13.2 times forward earnings and 2.1 times tangible book value, with a projected return on tangible equity of 15.8% by 2027. The stock is rated Overweight.
Recent Analyst Ratings:
<ul class="wp-block-list">
<li>HSBC analyst Saul Martinez downgraded the stock to Reduce from Hold but raised the price target from $558 to $627 on July 8, 2025.</li>
<li>Wells Fargo analyst Mike Mayo reiterated an Overweight rating and raised the price target from $650 to $785 on July 8, 2025.</li>
<li>Evercore ISI analyst Glenn Schorr maintained an Outperform rating and boosted the price target from $630 to $715 on July 2, 2025.</li>
<li>Morgan Stanley analyst Betsy Graseck kept an Equal-Weight rating while lifting the price target from $570 to $592 on June 23, 2025.</li>
<li>RBC Capital analyst Gerard Cassidy reaffirmed a Sector Perform rating but trimmed the price target from $610 to $560 on April 15, 2025.</li>
</ul>
Price Action: GS shares were trading lower by 0.26% to $700.19 at last check Wednesday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46441436/bank-of-america-q2-loans-and-deposits-grow-efficiency-ratio-increases-to-64-58" target="_blank" rel="noreferrer noopener">Bank of America Q2 Loans And Deposits Grow, Efficiency Ratio Increases To 64.58%</a></li>
</ul>
Photo by ioda via Shutterstock

Analyst Color

Goldman Sachs Delivers Q2 Powerhouse, Stock Set To Outperform

While the market absorbs a mixed bag of <a href="https://www.benzinga.com/markets/equities/25/07/46435439/dow-tumbles-over-400-points-as-inflation-rises-faster-than-expected-fear-index-moves-to-greed-zone">inflation reports</a> and Fed projections, focus is shifting back to earnings, <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46420414/bank-earnings-performance-q2-citigroup-jpmorgan-blackrock-wells-fargo">beginning with the largest banks</a>. Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) and Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reported on Wednesday and their figures have the financial sector cheering.
But rather than stock-picking their way through spreadsheets and surprise provisions, <a href="https://www.benzinga.com/etfs">ETF investors</a> can take a more direct approach: positioning through financial sector funds that provide broad exposure to Wall Street&#8217;s largest names.
The earnings season started on a positive note on Tuesday. Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WC#NYSE">WC</a>) topped forecasts with higher-than-expected second-quarter adjusted EPS on July 15, benefiting from higher net interest income and careful cost discipline. Meanwhile, JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) also exceeded expectations, with solid performances from both its consumer and commercial banking segments.
These initial beats gave hope that the remainder of the large bank group— Goldman Sachs, Morgan Stanley, and Bank of America— could do the same, and they did today. 
Bank of America beat earnings estimates and saw revenue growth. Goldman Sachs also came ahead of estimates, as trading operations generated $840 million more revenue than expected. Morgan Stanley, too, beat earnings estimates on increased trading revenues.
This creates a key window now for ETF investors wanting to ride or hedge against banking sector volatility.
<h2 class="wp-block-heading">The ETF Earnings Playbook: Financials In Focus</h2>
Bank stocks can sometimes serve as macroeconomic health indicators. Loan expansion, consumer credit, investment banking work, and trading revenues all speak to a larger economic tale. And when sentiment is soaring (as it is currently, with the CNN Fear &amp; Greed Index in the &#8220;Greed&#8221; range), financials may receive a boost or a beating from even small surprises.
Three ETFs are in the limelight this earnings season:
Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>): The fund, which has an expense ratio of 0.08%, has leadership holdings in JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley.
Why it matters: XLF is the favorite ETF among retail and institutional investors for financials. It&#8217;s diversified across large-cap banks, insurers and asset managers.
The trade: Bullish on big banks beating earnings estimates? XLF provides broad but concentrated exposure.
SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>): This fund has an expense ratio of 0.35% and has exposure to large and regional banks. Among the top holdings are Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBBK#NASDAQ">TBBK</a>), Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), and Northern Trust Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>).
Why it matters: KBE equal-weights its positions, so it&#8217;s not controlled by the megabanks. That makes it a good bet if you believe the regional banking sector will surprise to the upside, or just remain stable after a rough year.
The trade: Use KBE to get a better handle on the banking sector, particularly if you anticipate positive news beyond the household names.
SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>): Top holdings: Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and, yes, the banks.
Why it matters: SPY is not a financials ETF, but banking earnings tend to lead the overall market in terms of setting the tone. Positive bank earnings can boost investor sentiment across the board.
The trade: For those who think banks will lead the momentum and enhance risk appetite, SPY is a means to participate in that without committing to a single sector.
Although the hot <a href="https://www.benzinga.com/markets/economic-data/25/07/46413961/june-inflation-cpi-report">headline inflation print </a>was at 2.7% YoY, core inflation surprisingly came in lower. That could be a green light for the banks, particularly if interest rate expectations are maintained and the loan books are healthy.
Despite this, not everything is rosy. The Dow fell by over 400 points on Tuesday and healthcare and materials pulled the S&amp;P 500 down. But Nasdaq jumped to new highs following Nvidia&#8217;s AI-powered chip romp, illustrating just how divided the market is.
<h2 class="wp-block-heading">Know Your Risk, Pick Your Basket</h2>
Earnings season is never predictable, but with ETFs, you don&#8217;t have to choose winners and losers stock by stock. Let the sector and investor sentiment do the heavy lifting.
So, whether you&#8217;re placing your bets on big beats or hedging against a letdown, ETFs such as XLF, KBE and SPY provide diversified, accessible ways to make your perspective a reality.
Because nothing speaks greed like doubling down on bank earnings, through ETFs.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/07/46423852/nvidias-china-chip-deal-signals-new-tailwind-for-chip-and-ai-etfs">Nvidia&#8217;s China Chip Deal Signals New Tailwind For Chip And AI ETFs</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

AAPL

NTRS

TBBK

ETF Playbook For Bank Earnings: Big Bets On Goldman, Morgan Stanley, BofA

<a href="https://event.webcasts.com/starthere.jsp?ei=1525737&amp;tp_key=cd78c1b8f4">https://event.webcasts.com/starthere.jsp?ei=1525737&amp;tp_key=cd78c1b8f4</a>

Dividends

During Conf Call, Goldman Sachs CEO David Solomon Says There Is Room For Dividend To Grow

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares traded higher Wednesday after the <a target="_blank" href="https://www.goldmansachs.com/pressroom/press-releases/2025/2025-07-16-q2-results" rel="noreferrer noopener">firm reported second-quarter results</a> that beat analyst expectations, boosted by robust gains in its global banking and trading divisions.
Net revenue rose 15% year over year to $14.58 billion, topping the consensus estimate of $13.36 billion, though it declined 3% from the prior quarter.
GAAP earnings came in at $10.91 per share, up from $8.62 a year ago and above the $9.48 consensus. First-half EPS rose to $25.07 from $20.21 a year earlier.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/07/46343357/goldman-sachs-earnings-are-imminent-these-most-accurate-analysts-revise-foreca" rel="noreferrer noopener">Goldman Sachs Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>
Provision for credit losses increased to $384 million, compared with $282 million a year ago and $287 million last quarter, driven by credit card charge-offs and portfolio growth.
<h2 class="wp-block-heading">Segment Highlights</h2>
<ul class="wp-block-list">
<li>Global Banking and Markets revenue jumped 24% to $10.12 billion, led by a 26% rise in investment banking fees and strong performance in FICC (up 9%) and equities (up 36%).</li>
<li>Asset and Wealth Management revenue declined 3% to $3.78 billion due to lower returns from equity and debt investments, partially offset by higher fees and lending income. Wealth management client assets totaled approximately $1.7 trillion.</li>
<li>Platform Solutions revenue edged up 2% to $685 million, as gains in consumer platforms were offset by softer transaction banking results.</li>
</ul>
Operating expenses climbed 8% to $9.24 billion, driven by higher compensation and transaction-based costs. The firm's efficiency ratio improved to 62.0% for the first half, down from 63.8% a year ago.
<h2 class="wp-block-heading">Other Key Metrics</h2>
<ul class="wp-block-list">
<li>Assets Under Supervision (AUS) hit a record $3.29 trillion, up $120 billion in the quarter, aided by market appreciation and $5 billion in net inflows.</li>
<li>Loans rose quarter over quarter, with an average balance of $215 billion. Loan loss reserves totaled $5.29 billion, split between wholesale ($2.82 billion) and consumer ($2.47 billion).</li>
<li>Net Interest Income surged 56% to $3.10 billion, driven by lower funding costs, on $1.65 trillion in average interest-earning assets.</li>
</ul>
Goldman returned $3.96 billion to shareholders during the quarter, including $3 billion in buybacks and $957 million in dividends.
On July 14, the Board increased the quarterly dividend to $4.00 per common share from $3.00, payable on September 29, 2025, to common shareholders of record on August 29, 2025.
The firm's Standardized CET1 capital ratio stood at 14.5%, while the Advanced CET1 ratio declined to 15.5%. Return on average common equity was 12.8% for the quarter and 14.8% for the first half. Book value per share rose 1.6% to $349.74 in the second quarter, up 3.9% year to date.
David Solomon, Chairman and CEO of Goldman Sachs, commented, "At this time, the economy and markets are generally responding positively to the evolving policy environment. But as developments rarely unfold in a straight line, we remain very focused on risk management. Given the strategic decisions and investments we've made, we continue to believe that the firm is well-positioned to perform for our shareholders."
Price Action: GS shares were up 0.78% at $708 in premarket trading on Wednesday at last check.
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