- October 18, 2022
- Posted by: Stratford Team
- Category: Economy
U.S. equities charged forward for another day, extending a comeback that kicked off the week as earnings season sets into high gear.
The S&P 500 (^GSPC) surged 2.3% at the open, while the Dow Jones Industrial Average (^DJI) added 600 points, or 2%. The technology-heavy Nasdaq Composite (^IXIC) advanced 2.8%.
Sentiment got a boost Tuesday morning on third-quarter results from Goldman Sachs (GS) — Wall Street’s premier investment bank — which posted earnings that beat analyst estimates across the board despite challenging year-over-year comparisons. Shares rose more than 5% early into the session.
In an interview with CNBC, CEO David Solomon warned that there was a “good chance” the U.S. economy may enter a recession next year.
“That environment heading into 2023 is one that you’ve got to be cautious and prepared for,” he said.
Goldman Sachs is the last of the country’s six megabanks to unveil results. Despite better-than-feared figures from some…
