201.79 -0.33 (-0.16%)
Pre-Market: 8:24AM EST
|Bid||200.38 x 3200|
|Ask||201.77 x 800|
|Day's Range||200.35 - 204.74|
|52 Week Range||198.44 - 275.31|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||14.74|
|Earnings Date||Jan 16, 2019|
|Forward Dividend & Yield||3.20 (1.58%)|
|1y Target Est||272.87|
U.S-based financial firm Goldman Sachs Group Inc (NYSE:GS) is making headway into the cryptocurrency market and its recent milestone is the USDC approval by cryptocurrency exchange Binance. Circle, a Goldman Sachs-backed cryptocurrency startup created the USDC coin which is now available on Binance. This means that the cryptocurrency can be purchased, sold, sent or received […] The post Goldman Sachs Group Inc (NYSE:GS) Cryptocurrency USDC Gains Binance Approval appeared first on Market Exclusive.
Investment bank Goldman Sachs said on Monday it expected a broad fall in the dollar next year as U.S. economic growth slows to be more in line with the global average. Goldman said the view meant it had revised it long-standing bearish view on the Japanese yen and tipped Latin American currencies, the Swedish krona, Canadian, Australian, and New Zealand dollars and Israeli shekel to rise. "We see several changes to the global economic backdrop which, combined with a few negative medium-run factors, point to more downside than upside to the broad dollar in 2019," Goldman said in a macroeconomic outlook report for 2019.
For the first time, investors are punishing Goldman Sachs for its role in one of the biggest financial scandals in history. Goldman shares are down around 11% since news broke on Nov. 1 that a former partner pleaded guilty and another former Goldman employee was charged with helping steal money from a Malaysian government investment fund known as 1MDB and paying bribes to the country’s leader to help Goldman win more business. It is possible to make informed estimates of the ultimate cost to Goldman.
The vaunted Wall Street firm has long chased growth around the world. And that pursuit led it to South Asia and a full-blown scandal. How much did the bank know, and when did it know it?
It's now 10 years after the financial crisis, but cases of illegal activities in the financial services industry and corporate America are still prevalent. The Securities and Exchange Commission (SEC) says it made a record payout of awards to whistleblowers in its latest fiscal year ending in September. Aided by whistleblowers, the agency says that many the firms and individuals it brought cases against "are involved in the financial services industry," including "broker-dealers, investment advisers, or other registered market participants." In its latest Annual Report to Congress, the SEC indicated that the total amount of the 2018 awards to whistleblowers was extraordinary. "The Commission awarded more dollars in FY 2018 to meritorious whistleblowers who provided new and critical information than in all prior years combined.
Wall Street’s “America First” playbook in 2019 will pack more punch, boosting the greenback along the way, according to David Bloom at HSBC Holdings Plc. “The market is perpetually looking for a U.S. slowdown, and it’s just not happening,” Bloom said in an interview in Madrid. Morgan Stanley’s Global Head of FX Strategy Hans Redeker said the dollar has peaked, pointing to investment flows and what he sees as a slowing economy.
J.P. Morgan and Goldman have been going head-to-head in arenas hundreds of miles from Wall Street. It's part of a broader push for fees and bragging rights among banks as deal activity in North America surged 53 percent to a near-record $1.43 trillion this year
“We believe the USD has reached its peak at around current levels,” Morgan Stanley’s global head of FX strategy Hans Redeker wrote in a note. Escalating trade tensions, climbing Treasury yields and a robust U.S. economy have fuelled investor demand for the world’s biggest reserve currency. The Bloomberg Dollar Spot Index has gained 8 percent since mid-April, cheered on by bullish hedge funds who recently raised their net long positions on the currency to the highest since January 2017.
As the US heads into a bumper year for tech IPOs, JPMorgan Chase is betting that it can shrug off the loss of two of its most senior tech bankers and break the duopoly of Goldman Sachs and Morgan Stanley ...
While generally upbeat about the outlook, Powell on Wednesday listed three possible challenges to growth in 2019: slowing demand abroad, fading fiscal stimulus at home and the lagged economic impact of the Fed’s past rate increases. The central bank is widely expected to raise rates for the fourth time this year in December -- and Powell did nothing to disabuse investors of that notion, playing down the significance of the recent stock market sell-off while playing up the performance of the economy.But his comments about possible drags on growth in 2019 raise questions about how many times the Fed will boost rates next year. The median forecast of policy makers in September was for three increases of a quarter percentage point each in 2019.
Could Gold Be the Best Bet amid Increased Economic Uncertainty? In March this year, Goldman Sachs (GS) turned bullish on gold for the first time in the last five years. As reported by Bloomberg, Goldman Sachs’s (GS) analysts wrote, “While we think that the U.S. cycle still has room to run it doesn’t mean that markets will not worry about it coming to an end.” The analysts added, “Going forward, we expect market ‘fear’ of a U.S. recession to strengthen.
Solomon made the comments in a voicemail sent to employees on Wednesday, weeks after U.S. prosecutors unveiled criminal charges against two former Goldman bankers tied to the alleged theft of billions of dollars from 1MDB, according to a transcript of a voicemail sent to employees on Wednesday which the bank gave to Reuters on Thursday. The government of former Malaysian Prime Minister Najib Razak set up 1Malaysia Development Berhad, or 1MDB, in 2009.
Investment banking giant The Goldman Sachs Group, Inc. ( GS) is a member of the Dow Jones Industrial Average and is in bear market territory at 26.5% below its all-time intraday high of $275.31 set on March 12. The diversified investment banking giant Morgan Stanley ( MS) is also in bear market territory at 26.5% below its 2018 intraday high of $59.38, also set on March 12. One reason is the global debt story! Goldman Sachs and Morgan Stanley likely have exposures around the world.
“I am personally outraged that any employee of the firm would undertake the actions spelled out in the government’s pleadings,” the firm’s chief executive officer said in a voicemail left with employees on Wednesday. The bank’s stock has suffered since prosecutors implicated a trio of Goldman Sachs bankers in a multibillion-dollar Malaysian fraud early this month. On Monday -- when the country’s finance minister said he would seek a full refund of all the fees it paid for 1MDB deals -- Goldman’s shares tumbled the most in seven years.
As the options become increasingly valuable, banks have to sell more and more futures contracts to try and contain their losses. Its impact on Tuesday, when West Texas Intermediate crude slumped $4.24 to $55.69 a barrel, was exacerbated by the large number of options involved.
Goldman (GS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
News of Berkshire Hathaway's latest 13-F filing made the rounds last night, offering some hope to beleaguered investors as Warren Buffett, at least as of September 30, had climbed into the foxhole next to you.
Shares of J.P. Morgan Chase & Co. surged 1.6% in premarket trade Thursday, after Warren Buffett's Berkshire Hathaway Inc. disclosed a new stake of 35.66 million shares in the banking giant as of Sept. 30. The new stake represents 1.1% of the shares outstanding. At the same time, Berkshire boosted its stake in Goldman Sachs Group Inc. by 5.1 million shares, while trimming its Wells Fargo & Co. investment by 9.65 million shares. Goldman's stock rose 0.6% in premarket trade, while Wells shares edged up 0.1%. Berkshire also sold off the 1.39 million shares of Walmart Inc. during the quarter, but the stock tacked on 1.7% premarket after the discount retail behemoth reported fiscal third-quarter earnings that beat expectations and raised its full-year outlook, while revenue came up short. J.P. Morgan's stock has edged up 0.4% year to date and Walmart's stock has gained 2.8% through Wednesday, while Wells shares have shed 14%, Goldman's stock has tumbled 20.5% and the Dow Jones Industrial Average has gained 1.5%.