New York, Jan 31, 2026, 14:25 EST — Market closed.
- Shares of Goldman Sachs slipped 0.5% on Friday, closing at $935.41.
- Traders digested the new Fed chair nominee alongside a hotter-than-expected wholesale inflation report.
- Coming next: job openings data on Feb. 3, followed by the U.S. jobs report on Feb. 6.
Goldman Sachs shares slipped 0.5%, ending Friday at $935.41. Trading volume hit roughly 1.9 million shares. (The Wall Street Journal)
Investors are revisiting their rate strategies as the stock moves into Monday, following Donald Trump’s announcement that Kevin Warsh will be nominated to chair the Federal Reserve. (Whitehouse)
A surprise in producer prices added to market jitters. The Producer Price Index, measuring wholesale inflation, climbed 0.5% in December, well above the 0.2% forecast. The 10-year Treasury yield ticked higher, while CME Group futures showed less than a 50% chance of a rate cut before June. “You’ve got uncertainty… a new nominated chair,” said Terry Sandven of U.S. Bank Asset Management. (Reuters)
U.S. stocks closed lower Friday, with the S&P 500 slipping 0.43% and the Nasdaq dropping 0.94%. Investors digested the Fed chair nominee, mixed earnings reports, and inflation data. “Markets are calibrating… the outlook for monetary policy,” said Michael Hans, chief investment officer at Citizens Wealth. Angelo Kourkafas of Edward Jones pointed to shutdown concerns as another factor. (Reuters)
Bank stocks also edged down. The KBW Nasdaq Bank Index fell roughly 0.2% on Friday, a smaller decline than Goldman’s. (The Wall Street Journal)
The gap is crucial since rate moves impact banks differently. Goldman, JPMorgan Chase, and Morgan Stanley all take positions on rates, yet Goldman relies more heavily on markets and deal fees than straightforward lending for its revenue.
Rising yields boosted certain sectors on Wall Street, but they also cooled bond and equity issuance as some clients held back. Friday’s tape showed a mix of both, with little room for patience.
The downside is straightforward. If inflation remains stubborn and rate cuts keep getting pushed back, risk appetite could evaporate quickly. Mergers usually lose momentum when boards start to worry.
Next week delivers new milestones in the ongoing debate. The U.S. Bureau of Labor Statistics has the Job Openings and Labor Turnover Survey set for Feb. 3, then the Employment Situation report on Feb. 6, capped by January’s CPI data on Feb. 11. (Bureau of Labor Statistics)
Trading picks up Monday, with investors focused on Treasury yields, the dollar, and fresh clues on Warsh’s route through Washington. Then comes the Feb. 6 jobs report — a key number that could shift rate-cut odds and influence Goldman’s next steps.
