NEW YORK, January 1, 2026, 11:17 ET — Market closed.
- Goldman Sachs shares last closed down 0.6% at $879 in the final session of 2025.
- Financial stocks lagged as U.S. Treasury yields edged higher into year-end trading.
- Investors are shifting focus to mid-January bank earnings and early-January U.S. jobs and inflation data.
Shares of Goldman Sachs Group Inc (GS) last closed down 0.61% at $879.00 on Wednesday, with U.S. markets shut on Thursday for New Year’s Day.
The timing matters because traders start 2026 with a reset in rate expectations and a bank-earnings calendar that often sets the tone for the broader financial sector.
For Goldman, the next read-through is whether dealmaking and capital-markets activity re-accelerate, and whether trading results hold up after a volatile year for rates, currencies and commodities.
Wall Street’s main indexes ended lower in light trading on the last day of 2025, while investors digested moves in yields and positioned for the return of a fuller economic-data calendar.
Financial stocks tracked the broader drift lower. The Financial Select Sector SPDR Fund (XLF), a widely used ETF that tracks big U.S. financial firms, fell 0.74% to $54.77 at the close, while Morgan Stanley fell 0.87% in the same session.
Rates were in focus. The 10-year U.S. Treasury yield rose to around 4.16% after weekly jobless-claims data, a move that can influence bank stocks because it affects borrowing costs and the pricing of many financial assets.
A recent filing also put Goldman’s calendar in view. A preliminary pricing supplement dated Dec. 31 for fixed-rate notes due 2041 said the bank intends to file its quarterly earnings release for the quarter and year ended Dec. 31, 2025, on or about Jan. 15.
Goldman has also set the day’s timetable. The firm said it will report fourth-quarter and full-year 2025 results on Thursday, Jan. 15, 2026, with a conference call later that morning.
Peers report in the same window, which can swing sentiment across the group. JPMorgan Chase plans to report on Jan. 13, Bank of America on Jan. 14, and Morgan Stanley on Jan. 15.
Bond-market positioning remains a key swing factor for financials. “I think next year will be trickier,” Jimmy Chang, chief investment officer at Rockefeller Global Family Office, told Reuters, pointing to the risk that longer-term yields rise even if the Fed cuts short-term rates. Reuters
Before the next session, traders will be watching whether Goldman can hold key chart levels after the year-end dip. The stock is about 4% below its 52-week high of $919.10 and sits above its 50-day moving average of $824.91, according to Yahoo Finance.
Macro data looms behind the rate debate. The Bureau of Labor Statistics calendar shows the U.S. employment report for December is scheduled for Jan. 9, followed by the December CPI report on Jan. 13 — releases that often move Treasury yields and bank shares.
For Goldman specifically, investors will be listening for any shift in tone on advisory demand, underwriting pipelines, and trading conditions, as well as expense discipline after recent strategic pivots. With the sector’s biggest earnings week arriving mid-month, the next catalyst is less about Thursday’s holiday pause and more about what the first wave of bank results says about 2026’s growth and rate backdrop.
