iShares U.S. Broker-Dealers & Securities Exchanges ETF (ARCA: IAI)

Dernières nouvelles pour iShares U.S. Broker-Dealers & Securities Exchanges ETF (ARCA:IAI)

iShares U.S. Broker-Dealers & Securities Exchanges ETF

iShares U.S. Broker-Dealers ETF

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The Fund seeks to track the investment results of the Dow Jones U.S. Select Investment Services Index; the Underlying Index, which measures the performance of the investment services sector of the U.S. equity market, as defined by S&P Dow Jones Indices LLC; the Index Provider or SPDJI. The Underlying Index includes companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and securities or commodities exchanges. The Underlying Index includes large, mid or small capitalization companies and may change over time.

Goldman Sachs Group Inc/The

S&P Global Inc

Morgan Stanley

International Exchange, Inc.

Msci Inc Com Usd.01

Moody'S Corp.

Charles Schwab Corp.

Cme Group, Cl A

Nasdaq Inc.

Coinbase Global Inc -Class A

iShares US Broker-Dealers & Securities Exchanges ETF

J.P. Morgan analyst Kian Abouhossein expressed the view on Goldman Sachs Group Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) third quarter financial results.
Today, the company reported revenue of&nbsp;$12.70 billion, beating the consensus of&nbsp;$11.87 billion, and EPS of&nbsp;$8.40,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41329766/goldman-sachs-q3-earnings-investment-banking-fees-surges-20-asset-wealth-management-up-16-but-fixed" rel="noreferrer noopener">beating the consensus of&nbsp;$7.03</a>.
In the conference call, CEO David Solomon highlighted strong client demand and a rising deal backlog and expects alternative fundraising to exceed $60 billion in 2024.
He noted the firm remained below 10-year averages for equity and M&amp;A volumes and stressed the need to enhance margins in asset and wealth management.
Solomon also mentioned that the direction of travel at this point is &#8220;back to the core business.&#8221;
On the other hand, Goldman&#8217;s CFO stated that the General Motors credit card partnership transfer is expected to close in the third quarter of 2025.
J.P. Morgan analyst, with an <a href="https://www.benzinga.com/quote/GS/analyst-ratings">Overweight rating</a>, writes that GS&#8217;s results are strong relative to the cautious guidance provided at the recent September Financials conference. Notably, Equity S&amp;T revenues reached $3.5 billion, significantly outperforming peers reported so far, with a substantial ongoing margin, adds the analyst.
Goldman Sachs has shown strength in its core franchises, and Abouhossein anticipates its shares will outperform peers.
The analyst anticipates low single-digit percentage upgrades to the consensus EPS for 2024.
Investors can gain exposure to the stock via&nbsp;Shares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Global X Funds Global X Dow 30 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>).
Price Action: GS shares are down 0.55% at $519.90 at the last check Tuesday.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41331839/financial-sector-hits-record-highs-as-goldman-sachs-bank-of-america-citi-beat-q3-ea" target="_blank" rel="noreferrer noopener">Financial Sector Hits Record Highs As Goldman Sachs, Bank of America, Citi Beat Q3 Earnings Expectations</a></li>
</ul>

Equities

Large Cap

News

Trading Ideas

DJIA

iShares Dow Jones US Broker Dealers Index Fund

Goldman Sachs' Core Business Strength And Future EPS Growth Has Upside, Analyst Says After Q3 Performance

The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) shares are trading higher after the company <a target="_blank" href="https://benzinga.com/pressreleases/24/10/b41328173/schwab-reports-third-quarter-results" rel="noreferrer noopener">reported&nbsp;third-quarter results</a>.
Revenue rose 5% to $4.85 billion, beating the consensus of $4.78 billion. Net interest revenue declined 1% Y/Y to $2.222 billion in the third quarter. Clients&#8217; daily average trades totaled 5.697 million, up 9% Y/Y.
Asset management and administration fees rose 21% Y/Y to $1.48 billion. Adjusted net income remained flat Y/Y at $1.52 billion. Adjusted EPS was stable Y/Y at $0.77, <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">beating the consensus of $0.75</a>.
The bank had $246.5 billion in deposits at the end of the third quarter of 2024, down 13% Y/Y. In the third quarter of FY24, core net new assets stood at $95.3 billion, pushing the total client assets to $252 billion year-to-date. 
Total client assets rose 27% Y/Y to a record high level of $9.92 trillion. The company&#8217;s active brokerage accounts reached 36.0 million in the quarter.
Walt Bettinger, Co-Chairman and CEO, said, &#8220;Record YTD flows into Schwab Wealth Advisory&nbsp;helped Managed Investing net flows reach $40 billion – an increase of 65% versus 2023 year-to-date. Converted Retail Ameritrade client interest in wealth solutions remains robust, accounting for approximately 35% of these flows.&#8221;
This month, Walt Bettinger&nbsp;announced that he will retire at the end of 2024.&nbsp;Rick Wurster, the current president, will <a target="_blank" href="https://www.benzinga.com/news/24/10/41118258/charles-schwabs-ceo-bettinger-announces-retirement-names-president-rick-wurster-as-successor" rel="noreferrer noopener">succeed him starting Jan. 1, 2025</a>.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Tidal ETF Trust God Bless America ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YALL#NYSE">YALL</a>).
Price Action: SCHW shares are up 8.76% at $73.75 premarket at the last check Tuesday.
Image via Shutterstock
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</ul>

Earnings

Management

Movers

SCHW

YALL

Charles Schwab Q3 Shines: Client Assets Reach $9.92T, Revenue Hits $4.85B, Debt Reduction & More

On Tuesday,&nbsp;Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)&nbsp;shares are trading higher after the company reported revenue of&nbsp;$12.70 billion for the&nbsp;<a target="_blank" href="https://www.goldmansachs.com/pressroom/press-releases/current/pdfs/2024-q3-results.pdf" rel="noreferrer noopener">third </a>quarter, beating the consensus of&nbsp;$11.87 billion.
Sales increased&nbsp;7% Y/Y, reflecting higher net revenues in Global Banking &amp; Markets and Asset &amp; Wealth Management, partially offset by lower net revenues in Platform Solutions.
Global Banking &amp; Markets revenues were&nbsp;$8.55 billion, up&nbsp;7% Y/Y. This was boosted by a&nbsp;20% Y/Y increase in investment banking fees to&nbsp;$1.87 billion, led by higher revenues in Debt and Equity underwriting. Slight gains in advisory revenues contributed significantly to this growth.
Net revenues in Fixed Income, Currency, and Commodities (FICC) were&nbsp;$2.96 billion,&nbsp;down 12% Y/Y, primarily reflecting lower net revenues in FICC intermediation on weak net revenues in interest rate products and commodities.
Asset &amp; Wealth Management revenue was&nbsp;$3.75 billion for the&nbsp;third quarter of 2024,&nbsp;16% higher than last year.
The U.S. financial services giant reported EPS of&nbsp;$8.40,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$7.03</a>.
Provision for credit losses was&nbsp;$397 million for the&nbsp;third quarter, compared with $7 million a year ago, reflecting net provisions related to the credit card portfolio (driven by net charge-offs).
Dividend: On October 11, 2024, the Board of Directors disclosed the quarterly dividend of $3.00&nbsp;per common share, payable on December 30, 2024, to shareholders of record on December 2, 2024.
The company returned common share repurchases worth&nbsp;$1.00 billion&nbsp;in the quarter.
Global core liquid assets averaged $447 billion in the third quarter of 2024, up from $424 billion in the second quarter of 2024, reflecting a positive trend in liquidity.
David Solomon, Chairman and CEO, said, &#8220;&#8221;We continue to lean into our strengths – exceptional talent, execution capabilities and risk management expertise – allowing us to effectively serve our clients against a complex backdrop and deliver for shareholders.&#8221;
Investors can gain exposure to the stock via Shares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Global X Funds Global X Dow 30 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>).
Price Action: GS shares are up 2.92% at $538.00 premarket at the last check Tuesday.
Photo via Shutterstock
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</ul>

Dividends

Buybacks

Goldman Sachs Q3 Earnings: Investment Banking Fees Surges 20%, Asset & Wealth Management Up 16%, But Fixed Income Falters

Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) disclosed the upcoming launch of PureStream, a volume-based trajectory trading solution that will provide clients access to <a href="https://www.benzinga.com/pressreleases/24/10/g41221318/nasdaq-launches-purestream-in-europe-a-new-tool-for-trajectory-trading" target="_blank" rel="noreferrer noopener">EU shares on Nasdaq Europe</a>.
PureStream, which is currently available in the U.S. and Canada, is expected to debut on Nasdaq Europe in the first quarter of 2025, pending regulatory approval.
PureStream on Nasdaq Europe offers a venue-operated trajectory trading service with conditional indications of interest.
It is expected to enhance collaboration among institutional investors with shared execution goals and provide access to algorithmic liquidity tailored to their volume targets.
The solution enhances price and liquidity discovery through open-ended liquidity transfer rates, enabling institutional investors to reduce market impact.
It automates parent order execution by allowing trades at a percentage of the market&#8217;s future volume based on the volume-weighted average price (VWAP).
Nikolaj Kosakewitsch, Senior Vice President and Head of European Equities &amp; Derivatives at Nasdaq, said, &#8220;This launch underscores our commitment to offering world-class platforms that support the evolving needs of the global capital markets.&#8221;
&#8221;PureStream on Nasdaq Europe will provide greater choice of trade execution mechanisms to our clients and help institutional investors navigate the European trading landscape.&#8221;
Investors can gain exposure to the stock via Listed Funds Trust Horizon Kinetics Blockchain Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCDF#NYSE">BCDF</a>) and iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>).
Price Action: NDAQ shares are up 0.17% at $70.99 premarket at the last check Tuesday.
Photo via Shutterstock
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</ul>

Listed Funds Trust Horizon Kinetics Blockchain Development ETF

BCDF

NDAQ

PureStream Powers Up: Nasdaq's Cutting-Edge Trading Tech Eyes European Expansion

CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) planned the expansion of its Nikkei 225 futures offerings by introducing yen- and U.S. dollar-denominated Micro Nikkei futures on <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41109808/cme-group-to-launch-yen-and-u-s-dollar-denominated-micro-nikkei-futures-on-october-28" rel="noreferrer noopener">October 28, pending regulatory approval</a>.
These new micro contracts, with contract sizes of 50 yen and $0.50, will allow traders to capture Japanese benchmark trading opportunities more precisely, enhancing CME Group&#8217;s current offerings of standard and E-mini Nikkei contracts.
Micro Nikkei futures will expand CME Group&#8217;s suite of micro equity futures contracts, which have traded over 2.9 billion contracts to date.
The recent trading highlights include 220 million cumulative Nikkei futures contracts traded since 2004, an average daily volume of 41,000 contracts year-to-date—up 9% year-over-year—and a year-to-date open interest of 67,000 contracts, reflecting a 2% increase year-over-year.
Paul Woolman, Global Head of Equity Index Products at CME Group, said, &#8220;The addition of micro-sized yen- and U.S. dollar-denominated Nikkei futures contracts will allow global market participants to gain efficient access to the broader Japanese stock market, while also mitigating FX exposure and allowing more granular trading capabilities.&#8221;
&#8220;Year-to-date, nearly 75% of trades in our Nikkei futures occurred outside of&nbsp;Tokyo&nbsp;cash hours, underscoring the need for around-the-clock liquidity for global market participants to manage their equity risk. Similar to their larger parent contacts, the smaller size futures contracts will also offer greater potential capital and margin efficiency.&#8221;
Last week, CME disclosed the expansion of its battery metals suite with the launch of a Spodumene CIF China (Fastmarkets) Futures contract set for <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41084773/cme-group-to-expand-battery-metals-suite-with-launch-of-spodumene-futures-on-october-28" rel="noreferrer noopener">October 28, 2024, pending regulatory approval</a>.
Investors can gain exposure to the stock via&nbsp;The Advisors? Inner Circle Fund Cambiar Aggressive Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAMX#NYSE">CAMX</a>) and iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40693687/cme-group-downgraded-analyst-sees-cutthroat-competition-from-bgc-group-cboe-global-" rel="noreferrer noopener">CME Group Downgraded: Analyst Sees Cutthroat Competition From BGC Group, Cboe Global &amp; Intercontinental Exchange</a>
Price Action: CME shares are up 0.03% at $220.71 premarket at the last check Tuesday.
Read Next:
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</ul>

CAMX

CME Group Expands Nikkei Futures Offerings, Boosts Japanese Equity Derivatives

Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) expanded its digital bank <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40974376/nasdaq-expands-digital-bank-fintech-presence-in-latin-america" rel="noreferrer noopener">financial technology operations in Latin America</a>.
Notably, the company agreed to supply Nubank with its AxiomSL regulatory reporting solution. Nubank is a digital bank that serves over 100 million customers across Brazil, Mexico, and Colombia.
The agreement strengthens Nasdaq&#8217;s partnership with Nubank, extending support from treasury operations to regulatory reporting in Colombia.
The company underscores the growing demand for third-party financial technology solutions in Latin America, driven by the rapid expansion of digital banking and the need for quick market entry for new products and services.
Nasdaq serves over 50 banking and payment services clients in Latin America, including a mix of digital and traditional banks, local and regional players, and tier-one global banks.
Ed Probst, Senior Vice President, Regulatory Technology at Nasdaq said, &#8220;Digital banking services in Latin America are experiencing a period of extraordinary development, with online marketplaces, open banking and innovative technology combining to empower a new generation of consumers.&#8221;
&#8220;Nasdaq&#8217;s technology is helping to underpin the maturation of the industry, with proven regulatory solutions substantially reducing time to market and providing a competitive advantage in such a fast-paced industry.&#8221;
This month, Nasdaq unveiled a new leadership structure, including an appointment for its Financial Crime Management Technology business, to strengthen its <a target="_blank" href="https://www.benzinga.com//node/40746798" rel="noreferrer noopener">momentum and support continued growth.</a>
Investors can gain exposure to the stock via&nbsp;Listed Funds Trust Horizon Kinetics Blockchain Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCDF#NYSE">BCDF</a>) and iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)
Price Action: NDAQ shares are down 0.08% at $74.23 premarket at the last check Monday.
Photo via Shutterstock
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</ul>

Contracts

Nasdaq's AxiomSL Solution Powers Digital Banking, Boosts Presence In Latin America

The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares are trading lower premarket Tuesday. On Monday, the company&#8217;s CEO, David Solomon, reportedly stated that trading revenue will likely fall by 10% in the third quarter due to sluggish conditions last month.
However, Solomon noted that investment banking is improving, although activity from financial sponsors hasn&#8217;t rebounded as expected. He remains optimistic that private equity-led deals will recover by the end of this year and into 2025, reported Reuters.
According to Solomon, Goldman Sachs is narrowing its focus on the consumer business. The CEO highlighted the bank&#8217;s sale of loans to small and medium-sized businesses and its plan to exit a credit card partnership with General Motors as examples of its retreat from retail sectors, a strategy that started in late 2022.
Solomon said, &#8220;The combination of those things this quarter will likely have an approximately $400 million pre-tax impact, largely showing up in revenues.&#8221;
In July, the bank reported sales increased&nbsp;17%&nbsp;Y/Y, reflecting higher net revenues in Global Banking and markets and Asset and wealth Management. Also, the U.S. financial services giant reported GAAP EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
Goldman Sachs plans to cut over 1,300 employees from its global workforce in an annual review to eliminate low performers, <a target="_blank" href="https://www.wsj.com/finance/banking/goldman-sachs-to-lay-off-over-1-300-workers-f1d92b88?mod=latest_headlines" rel="noreferrer noopener">WSJ</a> reported in August.
Investors can gain exposure to the stock via&nbsp;iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Invesco KBW Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/08/40484078/goldman-sachs-warns-against-misinterpreting-wednesdays-us-jobs-data-as-crypto-markets-hold" rel="noreferrer noopener">Goldman Sachs Warns Against Misinterpreting Wednesday&#8217;s US Jobs Data As Crypto Markets Hold Their Breath</a>
Price Action: GS shares are down 0.57% at $485.80 premarket at the last check Tuesday.
Photo via Shutterstock
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Guidance

Media

KBWB

What's Going On Goldman Sachs Stock Premarket Tuesday?

Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares are trading lower on Tuesday. The bank has reportedly hired veteran investment banker Matt Beitzel, who previously led Citigroup&#8217;s North American banks coverage, as a partner in its financial institutions group.
Beitzel will join Goldman Sachs in November after a period of gardening leave, as per Reuters.
In his new role, he will lead Goldman&#8217;s dealmaking efforts with banks and financial services firms across the Americas.
In July, Goldman Sachs made several senior leadership appointments within its investment banking team, including the appointment of former JPMorgan banker Carsten Woehrn as<a href="https://www.benzinga.com/markets/equities/24/07/39855547/goldman-sachs-bolsters-m-a-team-with-key-hires-report" target="_blank" rel="noreferrer noopener"> joint co-head of M&amp;A in EMEA</a>.
The bank confirmed Haidee Lee&#8216;s return to Goldman Sachs as global co-head of Sponsor M&amp;A. 
This month, Goldman Sachs has reportedly agreed to sell Blanchardstown Centre, Ireland&#8217;s largest shopping mall, to <a href="https://www.benzinga.com/markets/equities/24/08/40400422/goldman-sachs-offloads-irelands-largest-mall-to-strategic-value-partners-report" target="_blank" rel="noreferrer noopener">credit firm Strategic Value Partners</a>.
Investors can gain exposure to the stock via iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
GS Price Action: Goldman Sachs shares are down 0.88% at $500.25 at publication Tuesday.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

ETFs

What's Going On With Goldman Sachs Shares Tuesday?

Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) has reportedly agreed to sell Blanchardstown Centre, Ireland&#8217;s largest shopping mall,<a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/08/40364199/heres-how-much-goldman-sachs-invested-in-bitcoin-etfs-despite-saying-theyre-not-believers-" rel="noreferrer noopener"> to credit firm&nbsp;Strategic Value Partners.</a>
The U.S. investment firm, which put the shopping mall for sale last year, aspiring about €650 million ($713.37 million), is selling for a price lower than that, reported Bloomberg, citing people familiar with the discussions.
Goldman Sachs purchased the mall from Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) in late 2020, when it was esteemed at €750 million.
The complex has 180 stores and eateries with 16 million visitors a year. Occupants include Zara and Hollister.
After a decade of disruption from online shopping, malls are attracting investors again, the report mentioned.
Check This Out:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40391777/walmart-q2-earnings-e-commerce-and-advertising-businesses-fuel-revenue-and-profit-beat-hikes-annual" rel="noreferrer noopener">Walmart Q2 Earnings: E-commerce and Advertising Businesses Fuel Revenue And Profit Beat, Hikes Annual Guidance</a>
Recent declines have made space more affordable for retailers, reducing the risk of missed payments. Additionally, tenants benefit from 14 consecutive quarters of rising consumer spending in Dublin, the report highlighted, citing data compiled for the city&#8217;s local governments.
&#8220;Capital values for prime shopping centers in Europe have fallen more than 40% since the peak and rental values in the best malls are now increasing, so if yields stabilize there is value recovery potential,&#8221;&nbsp;Sue Munden, a senior analyst at&nbsp;Bloomberg Intelligence, said about the region&#8217;s retail properties in general.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, GS stock has gained over 50% in the past year.
Investors can gain exposure to the stock via&nbsp;iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: GS shares are trading higher by 0.73% to $502.35 at last check Thursday.
Image via Shutterstock
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<li><a href="https://www.benzinga.com/news/earnings/24/08/40391260/s-p-500-eyes-6th-straight-win-but-investor-sentiment-remains-cautious-ahead-of-data-deluge-walmart-" target="_blank" rel="noreferrer noopener">S&amp;P 500 Eyes 6th Straight Win, But Investor Sentiment Remains Cautious Ahead Of Data Deluge, Walmart Earnings And Other Key Events</a></li>
</ul>

Markets

General

Goldman Sachs Offloads Ireland's Largest Mall To Strategic Value Partners: Report

The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reportedly stated that the winner of the U.S. presidential election in November will have limited options to significantly increase <a href="https://www.benzinga.com/topic/oil">domestic oil supply next year</a>.
What Happened: The bank noted that low strategic petroleum reserve stocks and potential regulatory easing are unlikely to significantly boost U.S. oil supply in the short term, though they could impact long-term supply.
Oil prices edged up on Friday following U.S. economic data that exceeded analyst forecasts, boosting investor expectations for higher crude oil demand from the world&#8217;s largest energy consumer.
Brent crude futures for September were trading around $82 per barrel, while U.S. West Texas Intermediate crude for September was about $78.
Goldman Sachs forecasts Brent prices will range from $75 to $90 in 2025, assuming steady GDP growth, stable oil demand, and market balancing by OPEC and its allies.
Tariffs could lower oil prices by up to $19 if the Federal Reserve delays interest rate cuts past 2025 due to high core inflation. Brent could fall to $62 in Q4 2025, vs. the current forecast of $81.
The bank added, &#8220;While there is a lot of uncertainty about trade policy, tariffs on U.S. crude imports seem unlikely.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39861967/goldman-sachs-to-launch-3-tokenization-projects-that-will-change-the-nature-of-investment">Goldman Sachs To Launch 3 Tokenization Projects That &#8216;Will Change The Nature Of Investment&#8217;</a>
Why It Matters: For the past six years in a row, the U.S. <a href="https://www.eia.gov/todayinenergy/detail.php?id=61545">produced</a> more crude oil than any nation at any time, according to International Energy Statistics. 
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)&nbsp;and&nbsp;Global X Funds Global X Dow 30 Covered Call ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>).
What&#8217;s Next: Goldman Sachs predicts oil prices could drop by up to $11 per barrel next year due to weaker demand and GDP, particularly if the U.S. imposes a 10% tariff on goods imports.
Price Action: GS shares are up 0.37% at $493.52 premarket at the last check Friday.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Now Read: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39901895/goldman-sachs-boosts-real-estate-portfolio-with-australian-last-mile-asset-report" target="_blank" rel="noreferrer noopener">Goldman Sachs Boosts Real Estate Portfolio with Australian Last-Mile Asset: Report</a></li>
</ul>

Goldman Sachs Warns Of Limited Oil Supply Options For Next US Administration

The Goldman Sachs Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares are trading marginally lower today. The company&#8217;s&nbsp;alternative investments platform reportedly acquired seven logistics properties in Australia to expand its real estate portfolio for an undisclosed amount.
Goldman Sachs Alternatives acquired &#8220;last-mile&#8221; properties in Adelaide, Brisbane, Perth, and Melbourne, leased to e-commerce, transport, and wholesale distributors, Reuters reported.
Last-mile logistics assets, typically urban warehouses, facilitate final delivery processing before reaching end-users.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/07/39861967/goldman-sachs-to-launch-3-tokenization-projects-that-will-change-the-nature-of-investment" rel="noreferrer noopener">Goldman Sachs To Launch 3 Tokenization Projects That &#8216;Will Change The Nature Of Investment&#8217;</a>
The report quoted Nikhil Reddy, head of Asia Pacific real estate at Goldman Sachs Alternatives, who said, &#8220;This investment highlights our continued commitment to Australian real estate and reflects our conviction in sourcing Australian last-mile logistics properties for our investors.&#8221;
Since 2012, Goldman Sachs Alternatives has invested over A$13 billion ($8.62 billion) in Australia, with A$6.2 billion allocated to industrial assets, office and commercial properties, and data centers since 2017.
Last week, Goldman Sachs reportedly made several senior leadership appointments within its <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39855547/goldman-sachs-bolsters-m-a-team-with-key-hires-report" rel="noreferrer noopener">investment banking team</a>.
This month, the bank reported second-quarter revenue of&nbsp;$12.730 billion, beating the consensus of&nbsp;$12.456 billion and EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
Investors can gain exposure to the stock via IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Global X Funds Global X Dow 30 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>).
<h2 class="wp-block-heading">GS Stock Prediction 2024</h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Goldman Sachs have an average 1-year price target of $503.67, representing an expected upside of 3.41%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Goldman Sachs Gr, while 12 analysts have bullish ratings. The street high price target from Barclays is $565.0, while the street low from BMO Capital is $373.0.
Price Action: GS shares are down 0.05% at $486.82 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39845249/goldman-sachs-and-betterment-launch-tax-smart-bonds-portfolio-for-savvy-investors-details" target="_blank" rel="noreferrer noopener">Goldman Sachs and Betterment Launch Tax-Smart Bonds Portfolio for Savvy Investors: Details</a></li>
</ul>

Goldman Sachs Boosts Real Estate Portfolio with Australian Last-Mile Asset: Report

The Goldman Sachs Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reportedly made several senior leadership appointments within its investment banking team.
The company appointed former JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) banker Carsten Woehrn as joint co-head of M&amp;A in EMEA to &#8220;grow and develop our European franchise,&#8221; reported Reuters.
Woehrn previously led JPMorgan&#8217;s Infrastructure M&amp;A franchise in Europe, specializing in healthcare, energy, and transportation transactions.
As per the report, Goldman Sachs has appointed Nimesh Khiroya as co-head of M&amp;A in EMEA.
He will continue his role as co-head of UK Investment Banking while previously leading activism and shareholder advisory in EMEA and Nordic M&amp;A.
The memo confirmed Haidee Lee&#8217;s return to Goldman Sachs as global co-head of Sponsor M&amp;A. She previously served as co-head of strategic investor group M&amp;A at JPMorgan.
M&amp;A volumes hit $1.6 trillion globally in the first half of the year, up 20% from a year earlier, Reuters reported earlier.
As per report, Equity capital market volumes increased by 10% over the same period. In their quarterly earnings, Wall Street banks noted a more robust deal pipeline and a surge in investment banking activity.
Yesterday, Goldman Sachs Asset Management and Betterment jointly introduced the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39845249/goldman-sachs-and-betterment-launch-tax-smart-bonds-portfolio-for-savvy-investors-details" rel="noreferrer noopener">Goldman Sachs&nbsp;Tax-Smart Bonds portfolio</a>.
This week, the bank reported second-quarter revenue of&nbsp;$12.730 billion, beating the consensus of&nbsp;$12.456 billion and EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39801120/goldman-sachs-analysts-boost-their-forecasts-following-better-than-expected-earnings" rel="noreferrer noopener">Goldman Sachs Analysts Boost Their Forecasts Following Better-Than-Expected Earnings</a>
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Invesco KBW Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: GS shares are down&nbsp;0.10%&nbsp;at&nbsp;$485.73 premarket&nbsp;at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Sergei Elagin On Shutterstock.com

Goldman Sachs Bolsters M&A Team With Key Hires: Report

The Goldman Sachs Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) shares are trading lower today. Goldman Sachs Asset Management and Betterment jointly introduced the Goldman Sachs <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39840523/betterment-and-goldman-sachs-launch-industry-first-tax-smart-bonds-portfolio" rel="noreferrer noopener">Tax-Smart Bonds portfolio</a>.
Goldman Sachs has developed a strategy by combining short-duration U.S. Treasury bonds, high-quality corporate bonds, and municipal bond ETFs.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39776059/goldman-sachs-targets-asias-fast-growing-economies-with-new-2b-private-equity-fund-report" rel="noreferrer noopener">Goldman Sachs Targets Asia&#8217;s Fast-Growing Economies With New $2B Private Equity Fund: Report</a>
This portfolio leverages Goldman Sachs&#8217; expertise in bond markets and Betterment&#8217;s automation.&nbsp;
The Goldman Sachs Tax-Smart Bonds portfolio is tailored for clients in higher tax brackets seeking a lower-risk bond strategy compared to equities.
This approach adapts to both longer-term trends and current market conditions, ensuring flexibility to respond to events such as the COVID-19 pandemic and U.S. debt ceiling debates, which can impact market stability.
Padideh Raphael, Global Head of Third Party Wealth at Goldman Sachs Asset Management, said, &#8220;It is important for investors seeking to create and safeguard long-term wealth to consider after-tax returns in their portfolios.&#8221;&nbsp;
&#8220;This latest collaboration, combining Goldman Sachs&#8217;s investment capabilities with Betterment&#8217;s innovative technology platform and customer-first approach, will allow us to work together on behalf of clients who seek attractive after-tax bond yields.&#8221;
This week, the bank reported second-quarter revenue of&nbsp;$12.730 billion, beating the consensus of&nbsp;$12.456 billion and EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39801120/goldman-sachs-analysts-boost-their-forecasts-following-better-than-expected-earnings" rel="noreferrer noopener">Goldman Sachs Analysts Boost Their Forecasts Following Better-Than-Expected Earnings</a>
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Invesco KBW Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: GS shares are down 2.30% at $490.63 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Goldman Sachs and Betterment Launch Tax-Smart Bonds Portfolio for Savvy Investors: Details

RBC Capital Markets analyst Gerard Cassidy raised the price target of Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) to $108 from $91, maintaining a Sector Perform rating following strong second-quarter FY24 results.
Yesterday, the bank reported EPS of $1.82, beating&nbsp;the consensus of $1.65, and sales of $15.02 billion, exceeding <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39793333/morgan-stanley-q2-earnings-higher-profits-as-investment-banking-activity-rebounds-on-track-to-reach" rel="noreferrer noopener">the consensus of $14.30 billion</a>.
The analyst writes that the bank&#8217;s diversified business model, including Institutional Securities, Wealth Management, and Investment Management, drove strong quarterly results with mid-teens ROTCE, led by its premier investment banking and trading operations.
If market conditions remain favorable through the latter half of 2024, Morgan Stanley is poised to sustain these advantages, buoyed by its strong presence in investment banking and trading sectors, says the analyst.
Given the company&#8217;s strong excess capital position, the analyst anticipates the bank will reward shareholders with common share repurchases and increased dividends, which should result in the company returning up to 100% of earnings.
Cassidy adjusted the 2024 and 2025 EPS projections to $6.95 and $7.80, up from $6.67 and $7.75, respectively. This revision reflects anticipated gains in net interest income and non-interest income, tempered by increased expenses.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39803035/morgan-stanley-capital-markets-segment-shines-wealth-metrics-lag-analysts-praise-st" rel="noreferrer noopener">Morgan Stanley Capital Markets Segment Shines, Wealth Metrics Lag: Analysts Praise &#8216;Strong Cost Discipline&#8217;</a>
Apart from this, Barclays raised the price target to $121 from $116 and maintained an Overweight rating, and, Evercore ISI Group upped the price target to $115 from $105 and reiterated the Outperform rating.
Price Action: MS shares are up 0.45% at $106.70 at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Credits &#8211; Shutterstock

Analyst Color

Price Target

Reiteration

Analyst Ratings

Morgan Stanley's Diversified Business Model Drives Q2 Success, Analyst Projects Increased Shareholder Returns

The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) shares are trading lower after the company reported second-quarter 2024 results. Adjusted net income declined&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39789825/schwab-reports-second-quarter-results" rel="noreferrer noopener">2% Y/Y to $1.465 billion</a>.
Adjusted EPS fell 3% Y/Y to $0.73, <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $0.72</a>.
Revenue rose 1% to $4.69 billion, beating the consensus of $4.68 billion. Asset management and administration fees rose 18% Y/Y to $1.38 billion.
The bank had $252.4 billion in deposits at the end of the second quarter of 2024, down 17% Y/Y.
Net interest revenue declined 6% Y/Y to $2.158 billion in the second quarter. Clients&#8217; daily average trades totaled 5.486 million, up 4% Y/Y.
In the second quarter of FY24, core net new assets grew 17% Y/Y to $61.2 billion, pushing the total client assets to $9.41&nbsp;trillion at quarter-end.&nbsp;
The company&#8217;s new brokerage accounts increased 4% Y/Y to 35.6 million.
Walt Bettinger, Co-Chairman and CEO, said, &#8220;Client interest in our broad array of wealth solutions remained strong through June. Year-to-date enrollments are up ~30% versus the prior year period and net flows into Managed Investing solutions reached $25 billion – an increase of 56% versus the first 6 months of 2023.&#8221;
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Tidal ETF Trust God Bless America ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YALL#NYSE">YALL</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39780640/bank-of-america-schwab-morgan-stanley-what-to-expect-from-tuesdays-earnings" rel="noreferrer noopener">Bank of America, Schwab, Morgan Stanley: What To Expect From Tuesday&#8217;s Earnings</a>
Price Action: SCHW shares are down 7.77% at $69.23 premarket at the last check Tuesday.
Photo via Shutterstock

Schwab's Asset Management Fees Soar, But Interest Income Decline Weighs on Q2: Details

JP Morgan analyst Kian Abouhossein presented their take on The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) second-quarter FY24 <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend" rel="noreferrer noopener">earnings results reported today</a>.
The bank reported revenue of&nbsp;$12.730 billion, beating the consensus of&nbsp;$12.456 billion, and GAAP EPS of&nbsp;$8.62,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$8.35</a>.
The analyst stated that Goldman Sachs&#8217; reported EPS of $8.62 is 5% above their estimate of $8.24. The bank&#8217;s $3.5 billion share buyback during the quarter significantly exceeded JPMorgan&#8217;s $1 billion, the analyst noted.
Abouhossein added that despite the buyback occurring before the Fed Stress Test results, which raised the SCB by 90bps to 6.4% and set a 13.9% Standardized CET1 ratio requirement from October 2024, strong earnings generation offers confidence in future capital returns.
However, uncertainty remains regarding the finalization of Basel 3 regulations, noted the analyst.
Abouhossein anticipates low-single-digit EPS upgrades to consensus for 2024. The analyst has <a target="_blank" href="https://www.benzinga.com/quote/GS/analyst-ratings" rel="noreferrer noopener">rated the stock Overweight.</a>
Investors can gain exposure to the stock via IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39776059/goldman-sachs-targets-asias-fast-growing-economies-with-new-2b-private-equity-fund-report" rel="noreferrer noopener">Goldman Sachs Targets Asia&#8217;s Fast-Growing Economies With New $2B Private Equity Fund: Report</a>
Price Action: GS shares are up 1.22% at $485.73 at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Goldman Sachs' Strong Q2 Performance Boosts Confidence in Future Returns, Says JP Morgan Analyst

S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) disclosed today the election of Martina L. Cheung, current President of S&amp;P Global Ratings, to succeed Douglas L. Peterson as President and CEO, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39537098/s-p-global-announces-leadership-succession" rel="noreferrer noopener">effective November 1, 2024</a>.
Cheung will also join the Board on July 1, 2024. Peterson will remain on the Board until May 2025 and serve as a special advisor until December 31, 2025.
Cheung, who has been with S&amp;P Global for 14 years, currently leads S&amp;P Global Ratings, which reported $3.3 billion in revenue for 2023, a 9% increase from the previous year, with a 56.5% operating profit margin. Under her leadership, S&amp;P Global Sustainable also achieved 24% revenue growth in 2023.
William D. Green, Chair of the Board&#8217;s Nominating and Corporate Governance Committee, said, &#8220;The Board conducted a thorough and thoughtful process to identify the best leader for S&amp;P Global&#8217;s next chapter, and it is a strong testament to our leadership team&#8217;s strength and capabilities that we have the ideal candidate in Martina.&#8221;&nbsp;
Additionally, the company said that Yann Le Pallec, current&nbsp;Executive Managing Director and Head of Global Ratings Services at S&amp;P Global Ratings, will succeed Ms. Cheung as President of S&amp;P Global Ratings, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39537506/s-p-global-ratings-appoints-yann-le-pallec-as-next-president" rel="noreferrer noopener">effective November 1, 2024</a>.
Douglas L. Peterson, current President and CEO of S&amp;P Global, commented, &#8220;I had the privilege of working closely with Yann during my time as President of the division, when he oversaw analytics for&nbsp;Europe, the&nbsp;Middle East&nbsp;and&nbsp;Africa. Yann is a great leader and an exceptional person, and I am excited to see the great things he will accomplish for the division and for S&amp;P Global.&#8221;&nbsp;
Outlook: S&amp;P Global said that full-year financial guidance is unchanged.&nbsp;In April, S&amp;P Global reported quarterly earnings of $4.01 per share, which beat the analyst <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38441140/s-p-global-reports-q1-results-raises-revenue-guidance" rel="noreferrer noopener">consensus estimate of $3.66 by 9.56%</a>.
That time, S&amp;P Global raised its 2024 revenue outlook from 5.5%-7.5% to 6%-8% and expects adjusted EPS of $13.85 and $14.10 <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">per share versus the $14.17 estimate</a>.&nbsp;
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Sterling Capital Focus Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LCG#NYSE">LCG</a>).
Price Action: SPGI shares are down 0.99% at $444.45 at the last check Friday.
Photo: Lukas from Pixabay

SPGI

Leadership Shuffle At S&P Global: Picks Insider Martina Cheung As CEO

Nasdaq, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) and The European Energy Exchange <a target="_blank" href="https://www.benzinga.com//node/32917720" rel="noreferrer noopener">deal could reportedly face</a> a full-scale investigation by EU antitrust regulators unless the Deutsche Boerse unit enhances its measures to address competition concerns.
EEX is aiming to acquire Nasdaq&#8217;s European power trading and clearing business, Nasdaq Power, whose platform is meant for users and companies in the Nordics.
The EU antitrust watchdog is unlikely to seek feedback from users and rivals on the already submitted remedies, indicating that these measures are insufficient, reported Reuters.
Notably, remedies were submitted to the EU on May 27, though details were not made public.
As per the report, the European Commission, the EU competition enforcer, is expected to open a full-scale investigation into the deal after its preliminary review ends on June 26, unless EEX strengthens its remedies in the coming days.
Last year, the parties said the deal posed no significant threat to competition in Denmark, Finland, Sweden, Norway, or any other EU country. They asserted that it would not eliminate competition between the two companies and noted that market reaction had been positive.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Natixis Vaughan Nelson Mid Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNMC#NYSE">VNMC</a>).
Price Action: NDAQ shares are down 0.71% at $58.61 at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

VNMC

Nasdaq-EEX Deal Hits Snag: Reportedly Risks Full-Scale Investigation By EU Antitrust Regulators

As April comes to a close, it&#8217;s time to compile the rankings for the top-performing sector and industry exchange-traded <a href="https://www.benzinga.com/etfs">funds of the month.</a>
Taking a broader look at the stock market, the S&amp;P 500 Index, represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), finished April on a downturn, declining by approximately 3%. This marks the end of a five-month streak of gains.
Similarly, the tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), experienced a 3.5% decline.
Among large-cap indices, blue-chip stocks showed slight underperformance, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) slipping by 4.5%.
Small-cap stocks, represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), plummeted by over 6%, marking their worst performance since October 2023.
Overall, it has been a challenging month for the stock market, primarily due to inflation surprises surpassing expectations. This has led to a recalibration of market expectations regarding potential Federal Reserve rate cuts.
Additionally, complex global geopolitical tensions have emerged, notably between Israel and Iran, alongside the ongoing issue in the Gaza Strip.
May is anticipated to start with a crucial event as investors await the Federal Reserve Open Market Committee <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">(FOMC) meeting on Wednesday. </a>
While no interest rate changes are expected, all eyes will be on Fed Chair Jerome Powell&#8216;s remarks to assess the Fed&#8217;s stance in response to recent inflation surprises.
Read also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Federal Reserve Meeting Preview: High Interest Rates &#8216;Need More Time To Work,&#8217; Bank of America Says</a>
<h2 class="wp-block-heading">Performance Of Sector ETFs In April 2024</h2>
At the sector level, only the utilities sector managed to avoid losses for the month, rising by 2.1%.
The largest stock contributors to the utilities&#8217; performance in April are NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), The Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) and NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) which showed monthly gains between 4% and 8%. 
Energy stocks remained broadly stable, while the other nine S&amp;P 500&#8217;s sectors showcased losses.
Real estate experienced the worst performance, down by over 7%, dragged down by its high sensitivity to interest rates, as Treasury yields increase across the board during the month. 
Following real estate, the technology and healthcare sectors also showed poor performance in April.
<h4 class="wp-block-heading">April&#8217;s Best And Worst Sector ETFs: Utilities Lead, Real Estate Lags</h4>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>April 2024 performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>2.06%</td>
</tr>
<tr>
<td>Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>0.01%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-1.11%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-3.23%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-3.68%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-3.85%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-4.13%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-4.24%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-4.78%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-7.83%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 2:50 p.m. EDT</figcaption></figure>
<h2 class="wp-block-heading">Performance Of Industry ETFs In April 2024</h2>
Based on the industry ETF list provided by BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) iShares, only five out of the 25 industries managed to report gains in April. Among them, miners did well across the board, with silver, copper, and gold mining stocks reporting robust gains. 
Standout contributors to the mining industry&#8217;s outperformance in April were Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>), up over 20%, Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), up 14%, Anglo American plc (OTCPK: AAUKF), up over 40%
Energy producers also managed to end the month in the green.
On the bottom side of the industry rankings, homebuilders, transportation, biotech stocks, digital infrastructure and real estate all report losses between 7% and 9.6% in April.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ETF Name</th>
<th>Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>iShares MSCI Global Silver and Metals Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>12.11%</td>
</tr>
<tr>
<td>iShares Copper and Metals Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>)</td>
<td>9.50%</td>
</tr>
<tr>
<td>iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td>
<td>5.93%</td>
</tr>
<tr>
<td>iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>)</td>
<td>2.81%</td>
</tr>
<tr>
<td>iShares MSCI Global Energy Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FILL#NYSE">FILL</a>)</td>
<td>2.46%</td>
</tr>
<tr>
<td>iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>)</td>
<td>-1.16%</td>
</tr>
<tr>
<td>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEO#NYSE">IEO</a>)</td>
<td>-1.37%</td>
</tr>
<tr>
<td>iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>)</td>
<td>-1.66%</td>
</tr>
<tr>
<td>iShares Lithium Miners and Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NYSE">ILIT</a>)</td>
<td>-3.30%</td>
</tr>
<tr>
<td>iShares U.S. Broker-Dealers &amp; Securities Exchange ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)</td>
<td>-3.74%</td>
</tr>
<tr>
<td>iShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>)</td>
<td>-3.88%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-4.37%</td>
</tr>
<tr>
<td>iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>)</td>
<td>-4.40%</td>
</tr>
<tr>
<td>iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>)</td>
<td>-4.79%</td>
</tr>
<tr>
<td>iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>)</td>
<td>-5.11%</td>
</tr>
<tr>
<td>iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-5.38%</td>
</tr>
<tr>
<td>iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>)</td>
<td>-5.45%</td>
</tr>
<tr>
<td>iShares Mortgage Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REM#NYSE">REM</a>)</td>
<td>-5.57%</td>
</tr>
<tr>
<td>iShares U.S. Medical Devices ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHI#NYSE">IHI</a>)</td>
<td>-5.75%</td>
</tr>
<tr>
<td>iShares Global Timber &amp; Forestry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOOD#NYSE">WOOD</a>)</td>
<td>-6.20%</td>
</tr>
<tr>
<td>iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)</td>
<td>-6.76%</td>
</tr>
<tr>
<td>iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>)</td>
<td>-7.12%</td>
</tr>
<tr>
<td>iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>)</td>
<td>-7.23%</td>
</tr>
<tr>
<td>iShares U.S. Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYT#NYSE">IYT</a>)</td>
<td>-8.34%</td>
</tr>
<tr>
<td>iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)</td>
<td>-9.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 3:15 p.m. EDT</figcaption></figure>
Now read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38497224/ai-data-centers-drive-electricity-demand-goldman-sachs-picks-16-stocks-to-play-the-">AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend</a>
Image generated using artificial intelligence via Midjourney.

Biotech

Market Summary

Mid Cap

REIT

Sector ETFs

Broad U.S. Equity ETFs

Specialty ETFs

Health Care

Commodities

Small Cap

Econ #s

Federal Reserve

Tech

Real Estate

AAUKF

COPX

SPDR Dow Jones Industrial Average ETF Trust

FILL

iShares Dow Jones US Insurance Index Fund

iShares Dow Jones US Regional Banks Index Fund

iShares U.S. Digital Infrastructure and Real Estate ETF

IDGT

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

iShares Dow Jones US Oil Equipment & Services Index Fund

iShares Dow Jones US Pharmaceuticals Index Fund

iShares Dow Jones US Health Care Provides Index Fund

iShares Dow Jones US Medical Devices Index Fund

ILIT

iShares Dow Jones US Aerospace & Defense Index Fund

iShares Dow Jones US Homenstruction Index Fund

iShares Trust Dow Jones US Financial Services Index Fund

iShares Dow Jones Transportation Average Index Fund

PAAS

PICK

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

iShares FTSE NAREIT Residential PLUS Capped Index Fund

RING

SLVP

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

iShares S&P Global Timber & Forestry Index Fund

WOOD

XLRE

Select Sector SPDR-Consumer Discretionary

April Showers On Wall Street:  Miners, Utilities Emerge As Bright Spots In Gloomy Market

Goldman Sachs Group Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) is reportedly in discussions to shift its&nbsp;General Motors Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) credit-card program to&nbsp;Barclays PLC&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>), marking a&nbsp;huge&nbsp;move in Goldman&#8217;s withdrawal from consumer lending.
Barclays emerges as the top contender to take over the&nbsp;credit-card&nbsp;issuance, which currently holds approximately $2 billion in balances, according to a&nbsp;<a target="_blank" href="https://www.wsj.com/finance/goldman-sachs-general-motors-credit-card-barclays-226d2b02" rel="noreferrer noopener">report&nbsp;</a>from The&nbsp;Wall Street Journal.&nbsp;A potential agreement could be reached&nbsp;by summer.
While other contenders like&nbsp;U.S. Bancorp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) and&nbsp;Bread Financial Holdings Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFH#NYSE">BFH</a>) were initially in the running, they have recently withdrawn, according to the report.
However, there&#8217;s no assurance that Barclays will finalize the deal, as another potential buyer might emerge.
Goldman&#8217;s decision to exit the partnership was communicated to employees in&nbsp;November,&nbsp;following challenges in customer acquisition.&nbsp;
Executives expressed frustration over what they perceived as insufficient promotion efforts by GM car dealers, the report further added.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38247147" rel="noreferrer noopener">Goldman Sachs Sees Resurgence In Debt Underwriting And Deal Activity, Q1 Profit Jumps 28%</a>
This prospective deal signifies a crucial step in Goldman&#8217;s strategy to disentangle itself from&nbsp;Main-Street&nbsp;lending, a process initiated in late 2022.&nbsp;
The bank&#8217;s Platform Solutions division, encompassing the GM credit cards and other consumer lending ventures, incurred about $6 billion in losses from 2020 through&nbsp;first-quarter&nbsp;of 2024, the report mentioned.
For Barclays, acquiring the GM&nbsp;credit-card&nbsp;program aligns with its efforts to broaden its U.S.&nbsp;credit-card&nbsp;portfolio beyond travel cards.&nbsp;
A new&nbsp;rule by the&nbsp;Consumer Financial Protection Bureau&nbsp;is expected&nbsp;to reduce late fees, potentially impacting lenders&#8217; revenues.
The report further specified that banks evaluating the GM program face the challenge of enhancing card relevance in a fiercely competitive&nbsp;market,&nbsp;where consumers prioritize travel rewards.
Goldman Sachs stock gained more than 26% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Vanguard Total Stock Market Index Fund ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38426856/gm-unveils-plans-for-autonomous-driving-unit-cruise-relaunch-after-hiatus-expects-1-7b-in-expenses" rel="noreferrer noopener">GM Unveils Plans For Autonomous Driving Unit Cruise Relaunch After Hiatus, Expects $1.7B In&nbsp;Expenses</a>
Price Action: GS shares closed higher by 0.76% at $430.81 on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Sergei Elagin On Shutterstock.com

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