New York, February 2, 2026, 14:59 EST — Regular session
- Goldman shares climbed in afternoon trading, following the uptick seen among major U.S. banks.
- Investors digested a bounce in U.S. factory activity alongside evolving bets on the Fed’s next moves.
- A partial U.S. government shutdown has pushed back the release of key labor-market data scheduled for later this week.
Shares of Goldman Sachs climbed 1.3% to $947.36 in Monday afternoon trading, swinging between $913.60 and $947.86 earlier. JPMorgan and Morgan Stanley also saw gains.
The stock jumped as U.S. equities regained momentum. The S&P 500 climbed 0.7%, lingering close to record highs, driven by robust earnings forecasts and stronger economic data. “The fundamentals are good and earnings are strong,” noted Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder. (Reuters)
Early signs emerged with the Institute for Supply Management reporting its manufacturing PMI climbed to 52.6 in January, up from 47.9—the first expansion in a year. New orders surged to 57.1, but some economists cautioned the boost might not last, given ongoing tariff uncertainties keeping companies on edge. (Reuters)
Rates continued to weigh heavily on financial stocks. Kevin Warsh, Donald Trump’s pick to chair the Federal Reserve, confronts a “tall task” winning backing within the central bank, according to Atlanta Fed President Raphael Bostic. The Fed kept its benchmark rate steady at 3.50%–3.75% last week, and Bostic ruled out any rate cuts this year. (Reuters)
For banks, both the level and direction of rates are crucial. When long-term borrowing costs climb quicker than short-term rates, the yield curve steepens—widening the gap between short and long rates—and this can boost lending margins. At Goldman, market swings also influence trading revenue and deal flow, often pulling them in different directions.
The data calendar took a hit. The Bureau of Labor Statistics announced the January employment report won’t drop this Friday due to a partial U.S. government shutdown. “The release will be rescheduled upon the resumption of government funding,” Emily Liddel, an associate commissioner at the agency, told Reuters. (Reuters)
Lawmakers were in the midst of addressing the issue. On Monday, the U.S. House of Representatives began considering a bill aimed at ending the shutdown, with a final vote scheduled for Tuesday, Reuters reported. Passage isn’t assured, though, and so far the impact has been contained since essential employees continue to work. (Reuters)
The jobs report was set for 8:30 a.m. ET on February 6, per the agency’s release calendar. Now, with funding talks dominating, traders must monitor rates and risk assets without that usual reference point this week. (Bureau of Labor Statistics)
There’s a risk the market is overreacting to brief data spikes. The Warsh news has already shaken up other sectors — in metals, it acted as “fuel on the fire,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management, in a Reuters column about the precious-metals selloff. A sudden jump in volatility can boost trading activity but also stall dealmaking, making it tough to price accurately on the fly. (Reuters)
Markets are now turning their attention to the Fed’s policy meeting on March 17–18. Investors want clearer signals on growth, inflation, and whether the central bank is sticking to its patient approach. (Federal Reserve)
