The election of Donald Trump in November and a swing back to Republican power in Washington is already starting to make an impact in the business world, according to Goldman Sachs CEO David Solomon.
Investors have been hoping Donald Trump's return to the White House next week will boost the U.S. stock market, while Goldman Sachs sees stocks benefiting from the biggest expected company buybacks in at least five years.
Goldman Sachs has flagged Insmed Inc. as a potential merger candidate under the pro-business policies of the incoming Donald Trump administration, CNBC reported. The investment bank estimates a 30%-50% chance that Insmed could be part of a deal in 2025.
JPMorgan notched a record profit of $58.5 billion, up from $49.6 billion in 2023, America’s biggest bank reported on Wednesday. Goldman Sachs said its profits soared to $14 billion in 2024, compared to $8.5 billion a year earlier.
On Monday, Trump will be sworn in as the 47th US president, making his vows over his mother’s Bible and another used by Abraham Lincoln in 1861. The ceremony at the US Capitol will feature country music singers Carrie Underwood and Lee Greenwood, who sells a $59.99 Bible endorsed by the president-elect.
Goldman Sachs chief economist Jan Hatzius is bullish on the outlook for the U.S. economy, in large part because he doubts Donald Trump’s incoming administration will be able to make good on its promises to drastically reduce budget deficits or immigration into the U.
Wall Street’s biggest banks posted record profits after Donald Trump’s election triumph triggered a US stock market trading frenzy...
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Four of Canada’s biggest lenders said on Friday they were withdrawing from a global banking sector climate coalition, joining six major U.S. banks.
History shows stocks can usually handle a gradual rise in yields just fine, according to analysts at Goldman Sachs. But the S&P 500 has tended to struggle if the 10-year yield moves more than two standard deviations, which would currently be equal to around 60 basis points, or 0.6 percentage points, in a month, they found (see chart below).
The major indexes reclaimed their 50-day moving averages while bitcoin also rallied into Donald Trump's presidential inauguration. Many stocks flashed buy signals.
JPMorgan Chase stands head-and-shoulders above the rest of this group of largest U.S. banks by ROAA, while Morgan Stanley runs a pretty close second when its performance is measured by ROTCE. And with such a large balance sheet, it is not a stretch to call JPM the best performer in the U.S. banking industry.