高盛股价今年以来上涨27%，涨幅超过大多数竞争对手。这是由于其核心投资银行业务复苏，以及该行大幅收缩其新推出的零售业务。Goldman Sachs Group, which ranked among the highest in the industry in terms of stock price increases this year, sent a signal reminding investors to act with caution.
The bank's CEO David Solomon said at a conference hosted by Barclays on Monday that the bank's trading business is expected to fall 10% year over year, with fixed income business falling the most. The New York-based company's tightening consumer business will also be hit by $0.4 billion before taxes. The company is exiting its credit card partnership with GM and its sell-side financing business.
Analysts had anticipated a 6.6% decline in Goldman Sachs's trading business this quarter, but Solomon's forecast was even larger, highlighting that its trading department would not be able to replicate the strong performance of the same period last year, and that the environment was more challenging, especially in August.
Goldman Sachs shares have risen 27% this year, surpassing most of their rivals. This was due to the recovery of its core investment banking business and the bank's sharp contraction of its newly launched retail business.
“The US economy is doing well,” Solomon said. “In my opinion, we don't seem to have clearly entered the credit cycle.”
