2750582 (GSF)
- Reuters
Goldman Sachs raises S&P 500 year-end target to 5,600
Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms have collectively surged by 45% and now comprise 25% of the S&P 500 equity cap, the brokerage wrote in a note after markets closed on Friday. The upgraded target reflects an upside of about 3.1% to the index's last close of 5,431.60. The brokerage expects roughly unchanged real yields by the year-end and strong earnings growth to support a 15x P/E for the equal-weight S&P 500 Index.
- Reuters
Exclusive-Goldman Sachs aims to double lending to wealthy private bank clients
Goldman Sachs aims to double its lending over the next five years to ultra-wealthy private bank clients with account sizes exceeding $10 million, as it gathers more deposits to supercharge lending, the bank's private banking chief told Reuters. The plans, previously unreported, were disclosed to Reuters by Nishi Somaiya, Goldman's global head of private banking, lending and deposits.
- Reuters
Cleveland Fed taps former Goldman executive Hammack for president's job
NEW YORK (Reuters) -Former high-ranking Goldman Sachs executive Beth Hammack will become the next president of the Federal Reserve Bank of Cleveland, the regional bank said on Wednesday. Hammack, 52, was until earlier this year co-head of global financing at the investment bank, where she also served on its management committee. The incoming Cleveland Fed president has extensive experience in markets and in how they interface with government activity.
