Stock Market Update
14-Jul-26 11:00 ET
Goldman Sachs helps offset IBM losses in the DJIA
Dow +25.39
at 52524.03,
Nasdaq +217.52
at 26111.70,
S&P +28.89
at 7544.23
[BRIEFING.COM] The major averages are little changed from previous levels.
With IBM's (IBM 216.43, -73.80, -25.43%) sizable loss this morning, it is no surprise that the DJIA (+0.1%) holds a narrower gain than its peers, though it is an impressive feat that the index remains in positive territory.
That is largely due to Goldman Sachs (GS 1124.00, +78.09, +7.47%) rallying to a fresh record high after beating Q2 expectations by a wide margin. The upside was broad-based across Goldman Sach's core profit engines, led by Global Banking & Markets, stronger investment banking fees, record Equities revenue, improved FICC performance, and a larger banking backlog that suggests the quarter was not just a one-off trading spike. The backlog increase is especially important because it supports the case that advisory and underwriting momentum can continue into the second half. The key debate is whether this level of earnings power can persist if market volatility, client activity, or issuance normalizes. For now, Goldman Sachs strengthened the case that its capital markets recovery, financing growth, AWM scale, and expense discipline can keep returns elevated beyond a single standout quarter.
