198.60 0.00 (0.00%)
After hours: 7:25PM EST
|Bid||0.00 x 800|
|Ask||198.88 x 1800|
|Day's Range||197.51 - 199.30|
|52 Week Range||151.70 - 275.31|
|Beta (3Y Monthly)||1.20|
|PE Ratio (TTM)||7.86|
|Forward Dividend & Yield||3.20 (1.61%)|
|1y Target Est||N/A|
JPM Coin made waves in the banking industry, but the largest banks have already been in an arms race to build the next big blockchain tech that can revolutionize payments.
Amid plenty of fanfare, President Jair Bolsonaro personally delivered the proposal to Congress on Wednesday, after a difficult few days for his government. The plan holds out big rewards, including estimated savings of up to 1.2 trillion reais ($320 billion) in 10 years, but its potentially tortuous progress will keep investors on edge for months. In a televised address on Wednesday evening, the president said that an overhaul of the pension system was necessary to prevent its collapse and that the proposed changes would be fair for all.
It will fall to U.S. District Judge Vernon S. Broderick in Manhattan to select the firm or firms that control the lawsuit. Malaysia has said it will extradite former banker Roger Ng, Leissner’s deputy, to the U.S. to face charges.
Avis Budget reports earnings under a "death cross" that was in play at its Jan. 3 low. The stock popped on an upgrade from Goldman Sachs.
The financial sector of the S&P 500 has risen sharply along with the broader stock market over the past two months. While I have my concerns on this sector through a multimonth lens, in the near term, stocks such as Goldman Sachs (NYSE:GS) are eyeing a well-defined next upside target. Specifically for GS stock, it is the 200-day simple moving average that looms large.Markets are complex mechanisms for the most part, and while I preach keeping it as simple as possible, I often see that many retail investors and traders only gaze a a few moving averages and then, based on that, put on their trades. In instances such as the one I am about to discuss here, however, it can make sense to use a specific price target or a moving average as a simple price attraction level.Let's have a look at the charts:InvestorPlace - Stock Market News, Stock Advice & Trading Tips GS Stock Charts Click to EnlargeMoving averages legend: red - 200 week, blue - 100 week, yellow - 50 weekFor context, I always start off with a bigger-picture view of both the absolute as well as the relative chart. In this case, we are looking at the multiyear chart of GS stock with weekly increments. Note that the price movement since the late-2008 lows has largely taken place within a well-defined up-trending channel. * 7 Financial Stocks With Accelerating Growth By early 2018, the stock had reached and marginally breached the very upper end of this range, and by late that year, it had reached and marginally breached the very lower end. The recent bounce off the lower end has been sharp, and I think the early 2018 highs are a long ways away from being seen again.In the near-term, however, should performance anxiety on the part of fund managers continue to percolate then a marginal further squeeze higher in GS stock and other financials could well take place. Click to EnlargeMoving averages legend: red - 200 day, blue - 100 day, yellow - 50 dayOn the daily chart, we see that GS stock after an already sharp rally into early January proceeded with an up-gap and rally following its latest earnings report. For the past month, however, the stock has largely trotted sideways and consolidated those early January gains. Through the lens of technical analysis, this consolidation period has taken the shape of a so called "bull flag pattern" that also is taking place right below the stock's blue 100-day simple moving average.If and when the stock can clear the $200 area on a daily closing basis, then a trade higher toward $210 and possibly $215 could unfold. Any sharp one-day bearish reversal, particularly if in conjunction with a broader market sell-off, would be a stop loss signal.Get FREE ACCESS to Serge's renowned Stock Market Scanner with actionable trade ideas. Get it HERE. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Hot Stocks Leading the Market's Blitz Higher * 7 Strong Buy Stocks With Over 20% Upside * 5 Growthy Stocks Trading Below 15X Earnings Compare Brokers The post Trade of the Day: Goldman Sachs Stock Is In Rally Posture appeared first on InvestorPlace.
Goldman Sachs Group Inc has backed Rabbet, a U.S. startup that develops software to help make construction finance more efficient, the companies said on Wednesday. Rabbet, formerly known as Contract Simply, will use the funding to further develop its platform and grow its software engineering and sales team, the company said. Rabbet's platform helps companies involved in construction finance -- such as banks, developers, and contractors -- digitize and view documents relevant to a deal.
Investing.com - Financial stocks struggled to stay afloat Wednesday as a downgrade of Charles Schwab hampered the sector.
The equivalent has just happened in China, with Alibaba raising its stake in investment bank CICC to nearly 5%. It isn’t clear how owning a minority stake in a midsize broker can benefit either Alibaba or Tencent.
Malaysia may postpone the extradition to the United States of a former Goldman Sachs banker wanted over a multibillion-dollar scandal at state fund 1MDB, as he has to face criminal charges in the southeast Asian nation first, its home minister said. Roger Ng has been detained in Kuala Lumpur since Nov. 1, soon after the U.S. Department of Justice (DoJ) filed charges against him for allegedly laundering funds siphoned from the fund, 1Malaysia Development Berhad (1MDB). Last week a Malaysian court ruled for Ng to be extradited to the United States, pending an order from the home affairs ministry.
Boeing Hits a 52-Week High: Will Its Momentum Continue?Boeing is at an all-time highThe Boeing Company (BA) stock has hit new highs week after week since it reported its impressive fourth-quarter earnings results on January 30. The stock achieved