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October 13th - Goldman Sachs third-quarter equity trading performance far exceeded expectations, but fixed income and interest rate trading revenue fell far short of Wall Street expectations. A statement released by Goldman Sachs on Tuesday showed that equity trading revenue reached $6.44 billion in the three months ending in September. This businesss second-quarter revenue, reported in July, set a new global banking record for the third consecutive quarter. While third-quarter revenue fell short of the record high of $7.42 billion set in the second quarter, it still exceeded aggregate analyst expectations. Fixed income and commodities trading revenue was $3.47 billion, far below expectations and down nearly 1% year-over-year. Goldman Sachs CEO David Solomon had previously warned in September that third-quarter performance would slow. Transaction matching drove Goldman Sachs third-quarter growth, with investment banking fee income reaching $3.22 billion, exceeding expectations. The banks asset management division also saw record management fee income.Goldman Sachs (GS.N) rose more than 3% in pre-market trading after its third-quarter equity trading revenue exceeded expectations.Goldman Sachs (GS.N) reported third-quarter sales and trading revenue of $3.47 billion for fixed income, currencies and commodities, compared to an expected $3.72 billion.Federal Reserves Goolsby: Concerns about tariffs and oil could lead to stagflation.JPMorgan Chase (JPM.N) projects its net interest income excluding markets to be approximately $107 billion in 2027.

Silver Price Analysis: Near 50 DMA, XAG/USD rises to mid-$23.00s

Alina Haynes

Feb 03, 2023 15:21

Silver attracted buyers around its 50-day simple moving average (SMA) on Friday, halting its previous day's regression from its highest level since April 2022. In the early European session, the precious metal maintains a moderately bullish tone, although the intraday increase lacks bullish confidence.

 

The XAG/USD has formed a rectangle pattern on the daily chart during the previous half-month, bouncing in a typical range. This indicates traders' hesitation and calls for care before putting aggressive direction bets. The inability to gain acceptance above the $24.50 supply zone overnight validates the trading range resistance, which should now serve as a pivot point.

 

Given that technical indications on the daily chart have only recently begun to drift into negative territory, it would be smart to await a sustained advance beyond the aforementioned barrier before putting bullish wagers. The XAG/USD pair might then attempt to recapture the $25.00 psychological level for the first time since April 2022. On the way to $26.00, the momentum could be extended towards the next significant obstacle near the $25.35 region.

 

Conversely, any further decline below the horizontal zone between $23.40 and $23.30 may continue to find support around the $23.00 to $22.95 region. This is followed by support in the $22.75 range, which, if forcefully broken, could pull the XAG/USD to the next key support near the $22.20-$22.15 zone before the $22.00 level.


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