U.S. Stocks Rise on Thursday, Dow Gains Nearly 300 Points
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Market Sentiment Improvement: The CNN Money Fear & Greed Index reading of 61.5 on Thursday indicates a shift into the 'Greed' zone, suggesting improved market sentiment that could boost investor confidence and drive stock prices higher.
- Strong Performance in Chip Stocks: Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) reported another record quarter, making chip stocks among the top gainers on Thursday, reflecting robust demand and growth potential in the semiconductor industry.
- Strong Earnings from Major Banks: Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS) saw their shares rise over 4% and nearly 6%, respectively, indicating strong profitability in the financial sector that may attract more investor interest in bank stocks.
- Positive Economic Data: U.S. initial jobless claims fell to 198,000, below market expectations of 215,000, indicating ongoing improvement in the labor market that could support economic growth.
Analyst Views on GS
Wall Street analysts forecast GS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for GS is 829.54 USD with a low forecast of 750.00 USD and a high forecast of 890.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
6 Buy
8 Hold
0 Sell
Moderate Buy
Current: 932.670
Low
750.00
Averages
829.54
High
890.00
Current: 932.670
Low
750.00
Averages
829.54
High
890.00
About GS
The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Its segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse set of clients. It also provides investing and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
