Goldman Sachs Reports Strong Earnings, Despite Market Volatility
Introduction
Goldman Sachs, one of the largest investment banks on Wall Street, is set to report its second-quarter earnings. The stock market has been volatile due to President Donald Trump's tariff policies, causing trading desks across the street to benefit. This has led to high expectations for Goldman Sachs' earnings as they have a strong presence in the trading market.
Key Details
Goldman Sachs' trading business has been performing exceptionally well, with a 20% increase in revenue in the first quarter of 2019. The bank's strong performance is due to their ability to navigate through the market's ups and downs, and their expertise in trading has been a key factor in their success. Additionally, Goldman Sachs has been expanding its trading operations globally, with a focus on emerging markets, which has further contributed to their strong earnings.
Impact
The Street is expecting Goldman Sachs to report a strong quarter, with an estimated earnings per share of $4.89, a 10% increase from the same quarter last year. The bank's strong performance in trading will likely be the driving force behind this growth. However, there are concerns about the impact of the ongoing trade tensions and potential market volatility, which could affect Goldman Sachs' future earnings. It will be interesting to see how the bank's trading business continues to perform in the face of these challenges.
