Many investors and analysts have increasingly lowered their expectations for the U.S. and China to find a quick resolution.World Economyread more
Billionaire investor Howard Marks, the co-chairman of Oaktree Capital, predicts there won't be a recession in the U.S. for another two years.US Economyread more
Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
New research suggests fewer girls pursue careers in STEM — science, technology, engineering and math — because they're better than boys at reading.Closing The Gapread more
Stocks in Asia Pacific edged up in Friday afternoon trade as a series of developments overnight on the U.S.-China trade front dampened hopes of a deal being reached between...Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
Goldman Sachs on Tuesday reported third-quarter earnings that easily beat on the top and bottom lines, helped by strong gains in trading revenue. Shares spiked more than 1.5 percent in premarket trade.
The investment bank posted quarterly earnings of $4.88 a share on revenue of $8.17 billion, up from $6.86 billion in revenue in the quarter last year. Bottom-line profit surged 58 percent.
Analysts had expected Goldman Sachs to report third-quarter earnings per share of $3.82 on revenue of $7.42 billion, according to a consensus estimate from Thomson Reuters.
Like most of its big Wall Street peers, Goldman also reported a big rise in trading activity that exceeded what were already high expectations. Net revenue from fixed income, currency and commodities trading jumped 34 percent from the third quarter last year to $1.96 billion, while equities trading revenues rose 2 percent to $1.78 billion.
Goldman posted return on equity of 11.2 percent, clearing the 10 percent bar for cost of capital.
"We saw solid performance across the franchise that helped counter typical seasonal weakness," Chairman and CEO Lloyd C. Blankfein said in the earnings release. "We continue to manage our balance sheet conservatively and are benefiting from the breadth of our offerings to clients."
The bank also ranked first in worldwide announced and completed mergers and acquisitions for the year, Goldman said in the release, citing Thomson Reuters.
"We are seeing the markets rebound in transaction levels, and that is positive for these money center banks," Vining Sparks analyst Marty Mosby said on CNBC's "Squawk Box."
Over the last three months, financials themselves are the second-best performers in the S&P 500. But the sector has struggled for during 2016 with moderate economic growth, lowered expectations for a Federal Reserve rate hike and one of the worst starts to a year for the U.S. stock market.