New York, Jan 22, 2026, 17:47 (EST) — After-hours
- Goldman Sachs shares closed just above the previous session and held steady after the market closed.
- A regulatory filing revealed the bank offloaded $14.75 billion in notes spanning four different maturities.
- Investors are focused on Washington’s upcoming decisions about credit-card rates and the Fed meeting slated for next week.
Goldman Sachs shares nudged up 0.2% on Thursday and held steady in after-hours, last trading at $954.65. According to an SEC filing, the bank issued $14.75 billion in fixed-to-floating rate notes maturing from 2029 to 2047. These notes start with fixed coupons ranging from 4.148% to 5.541%, then switch to floating rates tied to compounded SOFR, the benchmark for overnight U.S. dollar borrowing costs. (SEC)
The bond sale comes at a tricky time for the sector. Traders are sorting through what fresh policy discussions in Washington might mean for bank earnings—and how fast that could ripple into consumer behavior.
Goldman’s shares often reflect risk appetite in the deal space. SpaceX has tapped Bank of America, Goldman, JPMorgan, and Morgan Stanley for senior roles in a potential IPO, according to someone briefed on the plans. Investors will be watching any IPO move closely for signals that fee pools remain on the rise. (Reuters)
Policy uncertainty is shaking up stocks. Goldman slipped 1.9% Tuesday as investors gauged the chances of a Trump administration move to cap credit-card interest rates at 10%. Morgan Stanley took a bigger hit, falling 3.7% that day. Citigroup CEO Jane Fraser told CNBC the president’s focus on affordability makes sense, but warned that “capping rates would not be good for the U.S. economy.” (Reuters)
On Thursday, Bank of America explored launching new credit cards capped at a 10% interest rate, according to a source familiar with the situation. Citigroup is also reportedly mulling similar products, Bloomberg News told Reuters. The White House hasn’t detailed how it would enforce any broad rate cap, and analysts say new legislation would probably be necessary. (Reuters)
JPMorgan CEO Jamie Dimon ramped up his criticism a day earlier, branding a cap an “economic disaster” and warning it “would remove credit from 80% of Americans” during a Davos event. Brian Jacobsen, chief economic strategist at Annex Wealth Management, weighed in, saying the push for Congress makes a 10% cap “highly unlikely” anytime soon. (Reuters)
Goldman made waves beyond the usual banking chatter. The firm boosted its gold price forecast for the end of 2026 to $5,400 an ounce, up from $4,900. The upgrade reflects growing diversification by private investors and emerging-market central banks. In a note, Goldman said it “assumes” private-sector holders “don’t liquidate their gold holdings in 2026.” (Reuters)
Markets edged higher Thursday as the Dow climbed 0.63%, the S&P 500 gained 0.55%, and the Nasdaq rose 0.91%, following Trump’s retreat from tariff threats against European allies, according to Reuters. “You do not know whether it is Christmas morning or Friday the 13th,” remarked Gregg Abella, CEO of Investment Partners Asset Management. (Reuters)
Goldman’s near-term outlook remains headline-driven. Should a credit-card rate cap become workable legislation—or if the market judges enforcement likely—it could shake up consumer lending economics and hit sentiment across banks, including those with smaller card portfolios. The IPO pipeline might seem packed, but a spike in volatility could still bring things to a halt.
The Federal Reserve’s two-day policy meeting kicks off Jan. 27-28, with the statement set for 2:00 p.m. and a press conference at 2:30 p.m. on Jan. 28. Traders will be eyeing any firmer guidance from the White House and Congress on credit-card rate caps. They’ll also look for updates on whether SpaceX’s IPO plans are advancing beyond just assembling banker teams. (Federalreserve)
