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Goldman Sachs Drives Dow Higher While Flagging Historic Hedge Fund Underperformance and Expanding in India
The Goldman Sachs Group, Inc. $GS
$1,039.41+3.70%as of publication
- 5D Change
- +0.05%
- Market Cap
- $295.58B
Goldman Sachs shares added roughly 240 points to the Dow Jones Industrial Average on Friday, helping push the index up about 500 points, as a broad set of research calls and business moves kept the firm in focus across markets. The firm's prime brokerage data showed July was the worst month for hedge fund underperformance relative to the S&P 500 in more than 20 years of records, with Goldman describing it as "one of the sharpest hedge fund de-grossing episodes of the past decade." On strategy, Goldman argued that slowing inflation, not Treasury buyback programs, is the most reliable path to lower US bond yields, a view that cuts against Treasury Secretary Scott Bessent's recent bond-market support efforts. Goldman also said EUR/USD breaking above its 200-day moving average reflects its view that Treasury intervention may force the dollar to absorb more of the adjustment, with the pair trading around 1.1700 on Friday.
The firm joined JPMorgan as among the most bullish voices on European equities in a Bloomberg survey, citing a robust corporate earnings outlook. In India, Goldman broke into the government share-sale market, a segment long dominated by local financial institutions, while separately initiating coverage on 14 Indian banks with a mix of Buy, Neutral, and Sell ratings. The firm views HDFC Bank and SBI favorably, while assigning Sell ratings to PNB, Bank of Baroda, RBL Bank, and Yes Bank, citing stretched valuations and structural concerns at each.
Goldman also reported approximately 86.5 million dollars in XRP ETF holdings across five funds in its Q2 2026 filing, returning as the largest institutional XRP ETF holder after exiting those positions last quarter, coinciding with a roughly 40 percent surge in XRP's price. The firm lowered its price target on Walmart following a post-earnings selloff, citing valuation, and is listed among the lead advisers on Anthropic's upcoming IPO alongside Morgan Stanley, JPMorgan, and Citigroup. Goldman's trading desk noted that soaring call-option buying is accelerating gold's rally, with clients positioning for silver to reach 90 dollars within months, even as Goldman's existing gold price forecast stands at 4,900 dollars per ounce.
© AI-generated summary is provided by Market Flux
Sources
- NDTVProfitAlphaWhich Indian banks are actually worth betting on right now? HDFC Bank, SBI, PNB or all of the above? Goldman Sachs just answered that, starting coverage on 14 banks in one go, split across Buy, Neutral and Sell calls. Here's who made the cut, and who didn't
- CnbcGoldman says hedge funds suffered worst underperformance vs S&P 500 in July in more than 20 years of data
- cnbc.comGoldman says hedge funds suffered worst underperformance vs S&P 500 in July in more than 20 years of data
- CointelegraphBIG: Anthropic is set to add Citigroup as a top adviser on its upcoming IPO, joining Morgan Stanley, Goldman Sachs, and JPMorgan, per Bloomberg.
- BloombergGoldman Muscles Into Indian Banks’ Turf With State Share Deals
- BusinessGoldman and JPMorgan strategists are among the most optimistic about European stocks on the back of a robust corporate earnings outlook, a Bloomberg survey shows
- FirstSquawkGOLDMAN AND JPMORGAN STRATEGISTS ARE VERY POSITIVE ABOUT EUROPEAN STOCKS DUE TO A STRONG CORPORATE EARNINGS FORECAST.
- exchangerates.org.ukEuro to Dollar Forecast: The EUR/USD Has Broken a Major Trend Line
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- CoinGapeMediaBIG: @AnthropicAI is reportedly bringing Citigroup on board as a top adviser for its upcoming IPO, alongside Morgan Stanley, Goldman Sachs, and JPMorgan, per Bloomberg.
- DailychartbookMutual funds did not carry heavy exposure to AI stocks as of Q2 (note NVDA underweight is "off the charts") Goldman Sachs via @MikeZaccardi
- coingape.comBREAKING: Goldman Sachs Returns as Largest XRP ETF Holder
- Seeking AlphaGoldman Sachs expands into India's government share sale market - report
- ZerohedgeTop Overnight News Treasury secretary Scott Bessent’s bid to prop up the US bond market has been dismissed by investors as a “band-aid on a bullet hole”, as concerns mount over Washington’s $40tn debt burden and smoldering inflation. FT The market is treating the Treasury’s buyback announcement as a pure dollar negative, and Fed Chairman Kevin Warsh’s speech next week at Jackson Hole could be the catalyst for another round of greenback weakness: BBG Broadcom Inc. is in talks with a group of lenders to raise as much as $100 billion in SPV debt for an AI chip financing deal that will benefit Anthropic PBC and other companies. BBG Surging healthcare costs are walloping U.S. workers, and they will only worsen next year. For 2027, employers may be facing the biggest health-insurance increase in at least two decades. WSJ China will roll out additional fiscal policy measures in response to economic developments, Vice Finance Minister Liao Min said on Friday, as growth slows in the world's second-biggest economy. China will maintain the continuity and stability of macroeconomic policies and plan and allocate fiscal resources over a longer time horizon, Liao told a press conference. RTRS Ever since President Trump’s return to office, America’s allies have been fretting about Washington’s intentions. Now, after the inconclusive war against Iran has eroded U.S. weapons stockpiles and laid bare the limits of American hard power, they also worry about American capabilities. WSJ Japan’s consumer inflation picked up last month as the energy shock caused by the Middle East conflict rippled out across goods, firming expectations that the next interest-rate hike is around the corner. WSJ Samsung Electronics expects to return as much as $80 billion to shareholders this year, joining rival SK Hynix in sharing the AI windfall and fueling optimism across the tech sector. Nasdaq futures led gains. BBG Unprecedented shareholder-return plans by South Korea’s two chipmaking giants are emerging as a key swing factor for the won, potentially extending its recent rally if the firms tap local currency markets to fund the payouts: BBG Eurozone flash PMIs were solid in Aug, with manufacturing coming in at 52.8 (vs. the Street 51.8) and services at 51.7 (vs. the Street 51.5), as the economy demonstrated healthy growth and easing inflation pressure. S&P Britain posted a surprise budget deficit in July, underscoring the fragile state of the public finances as Chancellor of the Exchequer John Healey begins to draw up his crucial autumn budget: BBG Bitcoin topped $78,000, on track for its best week in more than three years. BBG September and October in midterm election years is when volatility picks up and S&P returns fade ... and that’s usually followed by a post-event bounce: Goldman
- QatarEconForumThe #QatarEconomicForum welcomes Chairman & CEO @GoldmanSachs Group David Solomon to our program. Join us in New York for our special #UNGAWeek program on September 20. Learn more:
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- MikeZaccardi$GS adding 240pts to the DJIA today