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Investment Bank Goldman Sachs Earnings Hurt By Weak Trading

August 4, 2023
in Trade Tube
Reading Time: 1 min read
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TheStreet’s Jim Cramer says while he’s disappointed by Goldman Sachs’ fixed income trading, he’s impressed by its equities division. Goldman Sachs easily topped quarterly results but profit dropped 7 percent during a fourth quarter that was difficult for most banks. Cramer says the bank’s fixed income trading came under pressure and it was as bad as it was for other banks like Bank of America, JPMorgan Chase and Citigroup. He points out, however, that equities were quite strong. He says he is tempted to believe that at a price very near here Goldman is a buy. He bought the stock for his Action Alerts PLUS portfolio, then sold it much higher but now he says he’s tempted to do the trade again.

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