Goldman Sachs Stock Rebounds Towards $1,045 on Strong Trading Business
Goldman Sachs' stock price has rebounded towards $1,045 after a strong second quarter, driven by exceptional revenue and profitability. The company's net revenue rose 39% to $20.34 billion, while net earnings reached $6.63 billion. Goldman's trading business was particularly robust, with Equities revenue up 72% and FICC revenue increasing by 32%. Investment banking fees also surged 55% to $3.40 billion.
The company is attempting to reduce its reliance on trading and advisory services through acquisitions, including the recent purchases of NEOS Investments and LCN Capital Partners. These deals are expected to add recurring fee revenue to Goldman's asset management business. The launch of a US dollar-backed stablecoin in early 2027, with plans to expand to other G7 currencies, is also seen as a strategic move.
The technical analysis suggests that $1,040-$1,045 is key resistance for the stock price. A sustained hourly break above this level could signal a move towards $1,057.55 and higher targets of $1,074.55 and $1,095.88. However, a breakdown below $999 would erase the bullish structure.