Important Points:
- Goldman Sachs aims for a turnaround, with $8.56 EPS for Q1 expected.
- Notwithstanding growing market volatility and tensions, U.S. stock futures are rising.
- As Israel successfully repels an Iranian aerial strike, oil prices decline.
- Due to the Middle East crisis and the Fed’s prognosis, gold prices continue to rise.
- As bitcoin rises, attention turns to the possible introduction of an ETF in Hong Kong.
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Goldman Sachs Eyes Turnaround Amid Rising Market Hopes
With projections of $8.56 EPS and $12.92 billion in sales when it publishes Q1 earnings, Goldman Sachs is in position for a possible turnaround. The corporation is focusing on its strengths in fixed income and stocks trading in an attempt to overcome its past struggles in retail banking and failing capital markets. Strong quarterly results from rivals like JPMorgan Chase and Citigroup have already increased pressure on Goldman Sachs to produce growth on par. Amid concerns over managerial changes, CEO David Solomon is leading the company away from retail banking failures with a strategy move into asset and wealth management. (CNBC)
U.S. Stock Futures Rise Despite Geopolitical Tensions and Market Volatility
Despite considerable market volatility and growing tensions brought on by Iran’s recent strikes on Israel, U.S. stock futures saw a little increase in early trading on Monday. Futures for the Dow Jones rose by 0.36%, while those for the S&P 500 and Nasdaq also saw increases. In the meanwhile, gold prices fell from all-time highs as investors continued to turn to bullion due to ongoing concerns about inflation and geopolitical unpredictability. With impending economic data releases and earnings reports, the market is still on the cautious side. (CNBC)
Oil Prices Dip as Israel Counters Iran’s Aerial Assault
After Israel successfully repelled a large Iranian aerial onslaught, oil prices dropped. In line with US objectives to prevent a wider Middle East war, tensions in the region remained high but did not develop into a larger conflict, which caused a slight decline in U.S. oil futures. The oil markets saw a short agitation as a result of this geopolitical event, indicating traders’ cautious confidence over the containment of the crisis. (Reuters)
Gold Prices Hold Steady Near Record Highs Amid Global Tensions
After peaking at $2,431.29 last Friday, spot gold increased 0.6% to $2,357.99 per ounce on Monday, keeping prices of the precious metal close to all-time highs. Bullion investments from safe havens continue to be driven by the ongoing crisis in the Middle East. At $2,374.30, U.S. gold futures likewise showed consistency. According to market observers, gold is becoming more and more seen as a flexible asset that will probably profit from both geopolitical threats and probable rate cuts by the Federal Reserve later this year. (Reuters)
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Bitcoin Rebounds as Market Eyes Hong Kong ETF Launch
Following the failure of an Iranian attack on Israel, Bitcoin has recovered to above $65,000, while Ether has also recovered to over $3,100 amid a lull in market volatility. After being shook by global unrest, the cryptocurrency market is now expecting the introduction of Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong, which may generate $25 billion in demand. The possibility of more military escalation has decreased as a result of U.S.-Israeli talks, allaying fears and stabilizing the market for digital assets. (DeskCoin)
