Goldman Sachs

Money Moves

Participating institution

Twenty-one of the world's largest banks have put about $270 million behind a shared stablecoin company. The money covers five years of operating costs for a venture known internally as Project Faro, which plans to issue a dollar-denominated token in the first half of 2027.

Updated Yesterday

Money Moves

Expects the Centre to meet its 4.3% deficit target

India's central government spent ₹7.14 lakh crore more than it received from April to September, 42.1% of its full-year deficit target. That compares with 36.5% at the same point last year.

Updated Nov 3

Money Moves

Published estimates on AI's effect on work hours and jobs

American workers took home 52.8% of the country's income in the second quarter of 2026, the smallest slice since the Bureau of Labor Statistics began tracking the figure in 1947. The previous quarter was 53.6%. This decade's average is about 55.6%.

Updated Nov 1

Money Moves

Q3 revenue beats estimates

Q3 earnings season opened strong for asset managers and some banks. BlackRock pulled in $205 billion in client money, lifting assets to $15.5 trillion, and Morgan Stanley beat estimates with $20.3 billion in revenue. Goldman Sachs posted $18.7 billion in revenue, a blowout, according to Fortune.

Updated Nov 1

Money Moves

Beat Q3 estimates by 30%

JPMorgan Chase missed profit estimates for the first time since late 2023, while Goldman Sachs beat by 30% and Morgan Stanley topped expectations. The gap came down to equities trading, which rose 72% at Goldman and 49% at JPMorgan. Treasury yields had their biggest quarterly rise since 2009, which cooled bond desks.

Updated Nov 1

Money Moves

Bullish on gold, raising forecasts

Gold pulled back sharply to $4,902.85 per ounce on January 31, 2026, after profit-taking triggered a 9% single-day decline on January 30 from the record $5,594.82 high reached January 29. Despite the correction—which saw prices slide more than 7% to below $4,980—gold remains on track for a monthly gain exceeding 15%, its strongest performance since the 1980s.

Updated Oct 30

Money Moves

Lead book-runner on the IPO

City Therapeutics closed its upsized Nasdaq IPO on October 19, raising $230 million before fees after underwriters bought all 1.67 million extra shares. The Cambridge biotech sold 12.8 million shares at $18 each. Its stock rose about 24% in its October 16 debut.

Updated Oct 21

Force in Play

As of September 2026: Raised oil forecasts; warns of $120 Brent risk

Brent crude crossed $100 on September 9 for the first time since July, after Iran attacked 10 ships near the Strait of Hormuz and the US destroyed five Iranian tankers. Prices retreated below $100 by September 21 as Trump signaled openness to talks and satellite data showed Saudi oil flows through the strait recovering to 2.9 million barrels a day, up from 700,000 in August.

Updated Sep 21

Money Moves

As of August 2026: Lead underwriter on SPCX; initiated equity research coverage July 7 with Buy rating and $205 price target

SpaceX's first lockup wave freed 911.5 million insider shares on August 6, more than doubling the stock's tradable float to 11.8% of shares outstanding from 4.9%. SPCX touched a new intraday low of $105.11, below the July 28 record of $107.01. Heavy selling never showed up: shares reversed and traded higher for much of the day, at one point up as much as 6%.

Updated Aug 6

Money Moves

As of June 2026: Early backer and IPO underwriter

Go Inc. runs the most-used taxi app in Japan. On June 16, 2026, it sold shares to the public for the first time and raised about 88.6 billion yen, roughly $552 million. Shares jumped as much as 23% on day one.

Updated Jun 16

Money Moves

As of June 2026: New investor in Prometheus $12 billion Series B

Prometheus, the AI startup co-founded by Jeff Bezos and Vik Bajaj in November 2025, emerged from stealth on June 11, 2026. The company announced a $12 billion Series B at a $41 billion valuation, backed by Goldman Sachs, BlackRock, JPMorgan, DST Global, and Arch Venture Partners. Total capital raised across three rounds now exceeds $28 billion — all in seven months.

Updated Jun 12

Money Moves

As of May 2026: Posted record equities trading revenue in Q1 2026

The six largest American banks wrapped up first-quarter 2026 reporting with combined net income of $47.3 billion, with trading floors thriving on Iran war volatility even as the outlook darkened. JPMorgan earned $5.94 per share on $50.54 billion in revenue as fixed-income trading surged 21 percent to $7.08 billion, while Citigroup posted its best quarterly revenue in a decade at $24.63 billion. Bank of America earned $1.11 per share, its highest in nearly two decades. Morgan Stanley posted a record equities trading quarter of $5.15 billion and a 29 percent jump in profit. Goldman Sachs led the week with record equities trading revenue of $5.33 billion. The banks announced roughly 5,000 job cuts, using the profit windfall to trim headcount rather than expand.

Updated May 31