New York, Jan 26, 2026, 10:59 EST — Regular session
- Goldman Sachs shares nudged up in early trading, tracking gains seen across major U.S. banks.
- Traders are digesting a shake-up in Goldman’s leadership while navigating a packed macroeconomic calendar this week.
- The Federal Reserve’s rate decision on Wednesday stands as the next major test for risk appetite.
Goldman Sachs shares climbed roughly 0.9% to $927.04 on Monday, following a trading range of $912.00 to $933.47 earlier in the day.
This matters because bank stocks are caught between two ongoing narratives: the pace of Fed easing and the extent of Washington’s regulatory push. Goldman’s earnings depend largely on trading and deal fees, which fluctuate with changes in rates and risk appetite.
Goldman is also shaking up senior roles, betting more on stable fee businesses to balance its markets franchise.
Wall Street’s major indexes climbed as investors prepared for a busy slate of earnings from the “Magnificent 7” giants and the Federal Reserve’s policy meeting. Adding to the pressure, a U.S. government funding deadline looms on Jan. 30. (Reuters)
Goldman Sachs elevated seven partners to its management committee, the firm’s highest decision-making body, in a move that also reshuffles its wealth management leadership, according to a memo obtained by Bloomberg News. The updates bring private credit co-heads James Reynolds and Vivek Bantwal onto the committee, while John Mallory and Nishi Somaiya were named global co-heads of the wealth management division. (Bloomberg Law)
Goldman moved in step with its peers. JPMorgan Chase climbed around 0.8%, Morgan Stanley gained close to 1.3%, and Bank of America advanced about 0.8%.
The policy environment remains unsettled. President Donald Trump’s $5 billion lawsuit targeting JPMorgan and CEO Jamie Dimon has heightened scrutiny on how fast Washington’s stance can shift, even as banks lobby for looser regulations. “The industry is losing as many battles as it wins on big issues,” said Todd Baker, a senior fellow at Columbia University. (Reuters)
The Fed takes center stage this week, with officials likely to hold rates steady. But the meeting comes under renewed political scrutiny, raising doubts about the central bank’s independence. “Trump will need greater turnover at the Fed to fully control the institution,” said Tim Duy, chief U.S. economist at SGH Macro Advisors. (Reuters)
That said, the setup is double-edged. Should yields spike or uncertainty around policy intensify—whether from the Fed battle, a shutdown threat, or fresh pressure on risk assets—banks linked to markets and deal flow could lose gains just as fast.
On deck: the Fed holds its two-day meeting from Jan. 27 to 28. The rate decision and press briefing are set for Wednesday, Jan. 28. (Federal Reserve)
