Movement Alert|Goldman Sachs Falls 3.14% in Regular Trading, Bank of America CEO Signals Weak Q3 Trading and Investment Banking Revenue Dragging Down Wall Street Banks

Market Focus
Sep 15

On September 15, Goldman Sachs fell 3.14% in regular trading, trading at $956.89/share, with turnover of $723 million. The decline came amid a broad selloff across major Wall Street banks triggered by cautious guidance from Bank of America's CEO.

Bank of America CEO Brian Moynihan stated at the Barclays Global Financial Services Conference that Q3 trading revenue would be roughly flat compared with the same period last year, marking a sharp contrast to the surge in trading income that Wall Street enjoyed in the first half. Additionally, investment banking fee revenue is projected at $1.6 billion to $1.8 billion, significantly below the analyst consensus of approximately $2 billion. Bank of America shares plunged over 5% intraday, pulling the entire banking sector lower.

Within the Investment Banking & Brokerage sector, declines were widespread. Jefferies Financial Group fell 3.05%, Morgan Stanley dropped 2.77%, Robinhood declined 2.76%, and Interactive Brokers lost 2.70%. Notably, Goldman Sachs' alternatives unit separately announced it had raised $11.7 billion across its newest private equity funds, though the positive fundraising news was insufficient to offset broader sector headwinds.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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