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Goldman Sachs Newsroom
Trump is reportedly set to ring the bell at the NYSE today. What does it signify?
① According to media reports, the USA's incoming president Trump will go to the NYSE on Thursday to ring the opening bell and deliver a speech; ② There are reports that Trump will be named Time Magazine's Person of the Year for 2024, but this has not yet been confirmed by Time; ③ Since Trump's announcement of victory, the three major US stock indices have risen repeatedly, with the market encouraged by promises of tax cuts and deregulation.
The central parity rate of the RMB against the US dollar is reported at 7.1854, down by 11 points.
On December 12, the middle exchange rate of the RMB against the USD was reported at 7.1854, down 11 points. The CPI in the USA for November recorded the largest increase in seven months, but it is unlikely to prevent the Federal Reserve from lowering interest rates next week. The consumer price index in the USA for November recorded the largest increase in seven months, but against the backdrop of a cooling job market, this is unlikely to prevent the Federal Reserve from lowering rates for the third time next week. Data shows that last month the CPI increased by 0.3% month-on-month, the largest increase since April, following a continuous increase of 0.2% over the previous four months. The year-on-year CPI growth rate increased to 2.7% after rising to 2.6% in October.
Musk is worth 447 billion US dollars and is the first “400 billion dollar millionaire” of adults
Tesla shares rose 5.9% on Wednesday to close at $424.77, a record high, surpassing the previous record of $409.97 set on November 4, 2021. Since this year, Tesla's stock price has risen cumulatively by about 71%, and has soared by about 69% since Trump won the US election. Driven by this, Tesla CEO Elon Musk's net worth skyrocketed by 62.8 billion US dollars overnight to reach 447 billion US dollars, making him the first superrich person on Earth with a net worth over 400 billion US dollars. Musk's current net worth is higher than Jeff Bezos, who is second on the Bloomberg Billionaires Index
The CEO of Bank of America stated that sales and Trade business in the fourth quarter is expected to reach a new high, with Investment Banking business revenue surging.
Bank of America CEO Brian Moynihan said that the quarterly revenue trend of the bank's investment banking business will increase by at least 25% year over year, while sales and trading business are expected to reach new highs. Moynihan said at the Goldman Sachs Financial Services conference on Wednesday that investment banking revenue for the fourth quarter could exceed $1.4 billion as deals “continue to grow.” Analysts had predicted that the investment banking revenue of the second-largest bank in the US would be close to 1.5 billion US dollars, which is equivalent to an increase of about 27%. Meanwhile, Moynihan said the sales and trading business should once again record year-on-year growth, now
Wall Street commodity traders' performance this year is expected to be the worst since before the pandemic
As market volatility weakens, the commodity trading business of the world's major investment banks may experience the worst year since before the outbreak of the pandemic. According to data compiled by Coalition Greenwich, the combined net revenue of more than 250 companies, including Goldman Sachs, Citigroup, and J.P. Morgan Chase, will reach 10.6 billion US dollars this year, which is nearly one-fifth less than last year's total revenue. Angad Chhatwal, head of global macro markets at Coalition Greenwich, said, “The trading boom is fading away, and revenue will drop a further 3% in 2025.” Chinese flag, tall
Market Climbs on CPI Inflation and Likelihood of Rate Cuts | Livestock
Wells Fargo CEO says he is more confident in regulatory fixes
Wells Fargo CEO Charlie Scharf (Charlie Scharf) said on Wednesday that the bank is more confident in the progress it has made in addressing compliance issues after years of false account scandals, and detailed its efforts to implement risk controls. He said at the Goldman Sachs Financial Services conference, “For every consent order we have received, for each of our regulatory deliverables, we have very detailed plans, and the regulators have reviewed these plans.” (A consent order is a legal agreement approved by a judge or court to resolve a dispute between the parties without a trial.) Schaff said:”
U.S. Stock Outlook | The three major Equity Index futures are mixed, as the market holds its breath for tonight's CPI.
On December 11 (Wednesday) in Pre-Market Trading, the three major U.S. Equity Index futures were mixed.
KBW Maintains Goldman Sachs(GS.US) With Buy Rating, Maintains Target Price $686
Gold prices remain stable as a breakthrough is awaited; the market anticipates key data from the USA tonight.
On Wednesday, gold prices remained basically stable as the market anticipated critical inflation data from the USA, which could impact general expectations for interest rate cuts and provide more clues for the outlook in 2025. As of 09:04 GMT (17:04 Peking time), spot gold held steady at $2,689.42 per ounce, reaching its highest point since early trading on November 25. COMEX Gold Futures rose by 0.3% to $2,725.50. StoneX Analyst Rhona O'Connell stated that the market is focusing on the upcoming inflation data and will pay attention to Chairman Powell next week.
Goldman Sachs: Has a more positive expectation for UNITED LAB's price trend next year, raising the Target Price to HKD 10.25.
Goldman Sachs released a research report stating that due to more positive expectations for the price trend of UNITED LAB (03933) next year, the sales and profit forecasts for 2025 and 2026 have been raised by 8.1%/4.7% and 17.4%/10% respectively. The Target Price has been increased from HKD 9.31 to HKD 10.25. According to Wind data, the pricing for UNITED LAB's penicillin G and 6-APA remains favorable and at historical highs, although there were some slight fluctuations in the price of 6-APA in November. The bank expects that the company's pricing trend will remain resilient in the coming quarters, as a major pharmaceutical company in India.
Goldman Sachs CEO Says Bank Can Consider Bitcoin, Ethereum Spot Trading If Regulations Allow
Trump is trending towards financial deregulation, Goldman Sachs (GS.US) cheers as the merger and acquisition market welcomes Bullish news.
During the Trump era, merger and acquisition Trades are expected to increase, and Wall Street Banks are likely to benefit.
Market Falls Wednesday, but Googles Chip Impresses | WST
Wall Street advisors expect the Trade facilitation Business to heat up during the Trump era.
Wall Street merger consultants indicate that anticipated regulatory relaxation is likely to drive merger and acquisition activity and initial public offerings over the next year, as companies are beginning to revive their Trade playbooks. Christina Minnis, head of Global Crediting and Global Business at Goldman Sachs, stated that given Donald Trump's policy commitments during his presidential campaign, "I think the market might perceive that merger and acquisition activity in the USA could become somewhat stronger." Minnis expressed on Tuesday that due to uncertainties surrounding potential tariffs in the USA, she expects "Europe will be more reserved," but overall, Trade activity should increase before the summer. "Since the election, the number of transactions has been increasing."
Express News | Goldman Sachs Says "Expect Modest Downside To Tanker Freight Rates In Coming Years In Our Base Case But 30% Further Downside If Red Sea And Russian Redirections Were To End"
The Goldman Sachs Group, Inc. (GS) Goldman Sachs 2024 U.S. Financial Services Conference (Transcript)
Express News | Reuters Next - Goldman Sachs CEO on Succession Says "I'll Be the CEO as Long as the Board Wants Me to Be the CEO"
Express News | Reuters Next - Goldman Sachs CEO Says 2025 Investment Banking Activity Maybe at or Ahead of 10 Year Averages
Citigroup's Chief Financial Officer stated that he feels "very good" about the revenue performance this year.
Citigroup is expected to achieve the high end of its revenue guidance range for 2024 and plans to increase the scale of Share Buyback once the bank's capital outlook becomes clearer. "Returning more of Citigroup's capital to investors is my top priority," Citigroup's Chief Financial Officer Mark Mason said at a conference organized by Goldman Sachs on Tuesday, "I am well aware of our trading levels compared to our peers." Mason also stated that the bank expects to reach the high end of its revenue guidance of $80 billion to $81 billion this year. "So that feels very good," he said. Mason indicated that spending may also be at the high end of the range. This suggests that the bank will...