Post by Jean-Pierre Palomba-Marin

Goldman reported its second-best quarter ever. Goldman Sachs started Q1 earnings season on Monday with its second highest quarterly profit ever. The year started with optimism, “but things don’t tend to happen in a straight line,” CEO David Solomon told analysts. The stock wiped out its entire year-to-date gain after the report, however. And that tension is the entire story this earnings season. The backward-looking numbers are strong. GOLD: Wall Street banks see a $40 billion trading bonanza from Q1 as volatility around the Iran war hit. Oh, and JPMorgan, Wells Fargo and Citi report today. Bank of America and Morgan Stanley latter. On every single call, it’s the same question for every CEO: What does the war do to your numbers through the rest of the year? https://lnkd.in/dNjDdgrS