What Happened?
Shares of global investment bank Goldman Sachs (NYSE: GS) jumped 3.6% in the afternoon session after the broader market rallied as Federal Reserve Chair Jerome Powell signaled a potential interest rate cut.
The broad market surge came after Federal Reserve Chairman Jerome Powell, speaking at a gathering of central bankers, signaled a possible cut in interest rates may be warranted due to a slowdown in job growth. The comments sent the Dow Jones Industrial Average up by nearly 900 points.
After the initial pop the shares cooled down to $740.97, up 3.5% from previous close.
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What Is The Market Telling Us
Goldman Sachs’s shares are not very volatile and have only had 7 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Goldman Sachs is up 28.9% since the beginning of the year, and at $740.97 per share, it is trading close to its 52-week high of $747.20 from August 2025. Investors who bought $1,000 worth of Goldman Sachs’s shares 5 years ago would now be looking at an investment worth $3,574.
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