Goldman Sachs Group (the) Stock News

Goldman''s new General Motors card could cement the issuer''s reputation for innovative digital features and serve as an industry blueprint.

Watch Live: Powell Positions Himself As Populist Crusader In Senate Confirmation Hearing Jay Powell''s big day has finally arrived. After being officially nominated for a second term at the Fed just before Thanksgiving, Fed Chairman Jerome Powell will appear before the Senate Banking Committee on Tuesday for his nomination hearing before the committee, then the entire Senate, vote on whether to officially confirm him to serve another 4 years at the central bank''s helm, a decision that most see as preordained (since the Senate wouldn''t dare defy markets, and risk tanking their own portfolios, by siding with Sen. Elizabeth Warren and voting against him). In his prepared testimony, Powell once again tried to position himself as a populist by addressing the inflationary pressures that have arisen from the combination of Fed stimulus and the supernova of federal spending, and insisting that the Fed is running the economy for the benefit of all, rather than embracing policies that stoke asset inflation, further widening economic equality.

General Motors Co (NYSE: GM ) on Monday launched a digital-friendly credit card with Goldman Sachs Group Incs (NYSE: GS ) consumer banking platform Marcus , the Detroit Free Press reported . What Happened: The move is a significant step for the legacy automaker as it migrates to a digital offering after first introducing a branded credit card three decades ago. For Goldman Sachs, this is the second such initiative through Marcus after it partnered with Apple Inc (NASDAQ: AAPL ) in 2019 to launch the Apple Card. Applications for new cards are being accepted online; those who qualify would receive a virtual card on the Marcus Full story available on Benzinga.com

Key Events In The "Massive Week Ahead" After a relatively quiet start to the year on the economic event front, if not in markets where last week''s FOMC Minutes sparked the worst bond rout since 2020 triggering the worst first week for the Nasdaq since the dot com bubble burst ... we have a "simply a massive week ahead for markets" according to Nomura''s Charlie McElligott, with Powell testimony and bunches of Fed speakers, along with US economic releases headlined by the markets most important datapoint in the CPI release Wednesday, in addition to PPI, Retail Sales and Consumer Sentiment over the course of the week, plus two Duration-heavy auctions ($36B of 10Y and $22B 30Y, on top of tomorrows $52B 3Y) and finally, US corporate earnings season kickoff (highlighted by JPM, C and WFC this upcoming Friday) Picking up the weekly preview baton, Rabobank writes that there will be little opportunity not to think about the Fed in the week ahead. The Bloomberg market consensus for Wednesdays US December CPI inflation release stands at an astounding 7% y/y.

Tesla Slips Under $1000, Continuing Longest Losing Streak In 10 Months, Despite Goldman PT Hike Shares of Tesla have slipped under $1000 per share in the pre-market session this morning, setting up to extend a 5 day losing streak for the company. The streak of down days, should it continue through today''s cash session, would be the longest losing streak for the EV company in 10 months, Bloomberg noted this morning. The move comes in the weeks following Elon Musk offloading more than $10 billion worth of stock. Meanwhile, Goldman Sachs, who has been involved in numerous Tesla fee-nancings financing efforts in the past, has name the automaker its "Top 2022 Pick" heading into the new year. The investment bank said that Tesla is ".. best-positioned to benefit from broad-based EV market growth .. given its strong market share, global presence (including new factories it is ramping this year ..) and its leadership position in clean transportation/EVs .." "We expect Tesla to expand margins in the intermediate term as it ramps the important Model Y product as well as new factories in Berlin, Germany and Austin, Texas, and in the long-term as it increases its mix of software revenue," Goldman wrote in a Sunday note. "We see upside to FactSet consensus estimates in the next few years.

Reddit''s "Antiwork" Forum Booms As Millions Of Americans Refuse Traditional Employment The unprecedented economic ructions caused by the pandemic (and, more importantly, the lockdowns and job-destroying restrictions on business that governments ordered in response to the pandemic) have forced many of Americans to dramatically rethink their relationship with work. Clearly, there''s something going on with the labor market. While JOLTS data show that millions of workers in the US continue to quit their jobs (and it''s not just low-paying jobs in retail and hospitality; increasingly white collar jobs are being left open), the last three months have yielded jobs creation numbers that have disappointed expectations (but are apparently still strong enough to justify a March rate hike by the Fed). Massive gains in crypto and equity markets since the start of the pandemic have given many Americans breathing room allowing them to pursue "alternative" lifestyles (be it "vanlife" or taking a stab at starting a small business of their own, even if that business is a simple dog-walking business).

Stocks Analysis by Zacks Investment Research covering: Goldman Sachs Group Inc, Nestle SA, NVIDIA Corporation, Boston Beer Company Inc. Read Zacks Investment Research''s latest article on Investing.com

Gwen Libstag, a 38-year veteran and founding head of Goldman''s conflicts resolutions group, is retiring. SOPA Images/ Getty Images

With big bank earnings just around the corner, one analyst has downgraded Goldman Sachs Group Inc (NYSE: GS )

Bank of America downgraded shares of Goldman Sachs to neutral from buy on Thursday.

Manhattan Apartment Sales Record Best Fourth Quarter In Three Decades For the last quarter of 2021, bargain hunters rushed to purchase apartments in Manhattan. Home sales in the borough reached a fourth-quarter record even though the Omicron variant scare has slowed the back-to-office return in the city. Appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate released a new report Tuesday that highlighted 3,559 co-ops and condos were sold in the fourth quarter of 2021, the most sales for the quarter going back three decades. The average price for an apartment sold jumped 11% to $1.17 million compared with the same quarter a year ago. The buying frenzy began in early 2021 as bargain hunters purchased apartments at a pandemic discount while thousands of Manhattanites in 2020 fled the metro area to suburbia because of pandemic lockdowns and violent crime . Jonathan Miller, president of Miller Samuel, believes the buying frenzy will continue through the first half of this year. "For the next several quarters, we''re going to see above-average sales activity and that is going to go a long way to bring down inventory levels," Miller said. "One of the things that has differentiated the Manhattan market with the rest of the country has been that it was late to the party, and the city''s boom in activity really started at the beginning of 2021," he added.

NYC Health + Hospitals, will receive an extra $111 million in support from City Hall and smaller, private safety-net hospitals will get $27 million in loans from Goldman Sachs.

Goldman Sachs Group Incs (NYSE: GS) co-head of foreign exchange strategy Zach Pandl estimates a $100,000 price target for Bitcoin (CRYPTO: BTC) if it manages to capture more market share from g