New York, January 18, 2026, 14:16 EST — Market closed.
- Shares of Goldman Sachs ended Friday at $962, slipping 1.4%.
- Bank shares slipped ahead of the long weekend, rattled by new policy proposals that fueled uncertainty.
- Trading picks up again Tuesday as investors eye earnings reports, interest rate moves, and Washington headlines for cues.
Goldman Sachs (GS) shares ended Friday at $962, slipping 1.4% after trading in a range from $957.63 to $983.53.
The dip came as U.S. equities finished mostly flat in a jittery session ahead of the long weekend, with Wall Street closed Monday for the Martin Luther King Jr. holiday. Traders stayed cautious ahead of Friday’s monthly options expiration — contracts that set buy or sell prices on shares. Investors are also uneasy over President Donald Trump’s plan to cap credit card interest rates at 10% for one year, a move banks warn could hit profits. “Most investors will take that as a win,” said Anthony Saglimbene, chief market strategist at Ameriprise Financial, commenting on the market’s flat close. (Reuters)
Goldman Sachs reported Q4 earnings per share of $14.01 on Thursday, beating the $11.67 consensus estimate from analysts, according to LSEG data. The strong results were driven by a record $4.31 billion in equity trading revenue. The bank raised its quarterly dividend to $4.50 per share, with CEO David Solomon calling the M&A environment “incredibly constructive.” Stephen Biggar, a banking analyst at Argus Research, described the dividend hike as a “powerful testament” to management’s confidence. Peer Morgan Stanley also exceeded profit forecasts. (Reuters)
Goldman Sachs Group reported net revenues of $13.45 billion and net earnings of $4.62 billion for the fourth quarter. Full-year earnings came in at $17.18 billion. “We continue to see high levels of client engagement across our franchise and expect momentum to accelerate in 2026,” CEO Solomon said. (Goldman Sachs)
After a strong rally last year, the stock is now priced on follow-through: a steadier M&A pipeline, increased equity underwriting, and some recovery in leveraged finance. Goldman’s wealth and asset management division also plays a key role, providing a steady fee stream that can soften the impact when deal flow dips.
Rates are still the key factor. When the bond market steadies, trading volumes tend to drop. But a surge in yields can dampen appetite for deals and curb corporate borrowing, even though it boosts client hedging activity.
Next week shifts the spotlight. Netflix reports earnings Tuesday, marking a move past the banking sector’s results. Then on Wednesday, the Supreme Court will hear arguments in Trump’s bid to oust Federal Reserve Governor Lisa Cook, spotlighting Fed independence. “Earnings need to carry the news cycle,” said Art Hogan, chief market strategist at B Riley Wealth. (Reuters)
Yet the bank trade remains on edge over Washington moves. A sudden jump from policy chatter to draft legislation can spook sentiment fast, and it seldom comes in tidy, standalone chunks.
Goldman faces a key moment Tuesday, January 20, when trading restarts and investors decide if Friday’s drop sparks buying or pushes the slide further. More volatility could boost its trading desks but might also stall deal activity, leaving the stock without a clear signal.
