New York, Jan 22, 2026, 12:55 EST — Regular session
Goldman Sachs shares climbed 1.8% to $969.88 during midday trading in New York on Thursday, riding the wave of gains in U.S. bank stocks. JPMorgan Chase edged up roughly 1.1%, Morgan Stanley added around 1.3%, and Bank of America rose about 1.9%.
Timing is key. Traders jumped back into cyclicals once President Donald Trump eased tariff threats on Europe. New U.S. economic data also supported the idea of a resilient economy just ahead of the Fed’s meeting next week. “It’s the TACO trade follow on from yesterday,” said Dustin Thackeray, head of portfolio management at Crewe Advisors—a trader’s shorthand for “Trump Always Chickens Out.” (Reuters)
Goldman made headlines Wednesday with a filing revealing $16 billion in new debt issued across six tranches. These ranged from floating-rate notes maturing in 2029 and 2032, to longer-term fixed/floating notes due in 2047. The biggest chunks were $4.5 billion of 5.065% fixed/floating notes due 2037 and $3.75 billion of 4.516% fixed/floating notes due 2032. (Fixed/floating notes typically start with a fixed coupon before switching to a floating rate.) (SEC)
Goldman Sachs is reshuffling its deal team, promoting consumer and retail banker Ben Frost to chairman of investment banking, according to an internal memo obtained by Reuters. The bank also appointed Cosmo Roe and Milan Hasecic as global co-heads of its consumer and retail group. (Reuters)
The stock has stayed steady after Goldman posted a quarterly profit beat last week, fueled by robust dealmaking and record equity trading revenue. CEO David Solomon told analysts that 2026 looks “incredibly constructive” for M&A and capital markets. (Reuters)
Talk of a deal lingered on Thursday after the Financial Times revealed SpaceX had reached out to Bank of America, Goldman, JPMorgan, and Morgan Stanley about senior positions for a possible IPO. Neither the banks nor SpaceX immediately replied to Reuters’ requests for comment. The report noted no final decisions had been reached. (Reuters)
Goldman’s research arm grabbed attention overnight by boosting its end-2026 gold price target to $5,400 an ounce, up from $4,900, in a Wednesday note. The bank’s forecast hinges on private-sector buyers holding steady into 2026, though it warned of downside risk if investors start offloading gold used as macro hedges. (Reuters)
GS shareholders are keeping an eye on a few key factors: the trajectory of interest rates, shifts in client risk appetite, and whether capital markets remain active. Underwriting and advisory fees get a boost from steady demand, but trading revenue is more volatile, hinging on volume and market swings.
But the downside is clear. Should tariff talk heat up or geopolitical tensions push markets toward risk-off, banks could face delays in deal timelines and tighter financing conditions — quickly cooling the pipeline that bulls are counting on.
The Federal Reserve is set to meet Jan. 27-28, with its rate decision and press conference slated for Jan. 28. Traders will be parsing the language around inflation and potential rate cuts for clues on bank earnings momentum — and if the 2026 deal calendar remains on course into February. (Federalreserve)
