Goldman Sachs leads 27% rise as Investment Banking Fees Surge

The biggest banks on Wall Street, including Goldman Sachs, had a big upswing in the third quarter as corporate clients picked up loans and increased mergers. Two years of inactivity went by before the present quarter and now the latest earnings reports are pointing out the high investment banking fees and good performance of the trading desks.

Though the same period of the previous year was used for comparison, Goldman Sachs (GS) showed a 20% increase in investment banking fees, which was their performance uptick. Bank of America (BAC) and Citigroup (C) also got decent gains. Investment banking is that sector that has been doing its best since the Federal Reserve made the decision to start the interest rate cuts.

The talks that Goldman Sachs CEO David Solomon engaged in also touched on interest rates. The client finally got to the point where he was about to confide the good news to his clients, who felt very secure and were reassured of their imminent mergers and acquisitions (M&A) and other business activities. In the interim, executives of both Bank of America and Citigroup seconded the motion, pointing out the increase in investment banking revenues and favourable market conditions.

Wall Street Banks See 27% Surge in Q3

The last quarter of 2024 witnessed a recovery in investment banking, which had been in bad shape due to the economic situation of instability and high loan costs. Goldman Sachs’s investment banking revenue rose by $1.8 billion, a 20% increase compared to the previous year, driven by new debt and equity issues and M&A activity.

Not only Bank of America, but Citigroup also was able to win which should be Bank of America’s clear explanation of their year-over-year gains from investment banking and asset management fees. The bank’s investment banking revenues jumped by 16% for debt issuance and 37% for equity issuance, severally. 

Citigroup also witnessed the positive influence of the rising M&A operations, which managed to take the sting out of a marginal profit decrease linked to the prior year.

Combined, the four major Wall Street banks — Goldman Sachs, Bank of America, Citigroup, and JPMorgan Chase — brought in a whopping $6.5 billion in investment banking fees during Q3, which is a 27% increase from a year ago. 

Nonetheless, there are still some trials. The international state, particularly in the Middle East, and the lack of clarity around the forthcoming 2024 US presidential election could produce varying market sentiment and decelerate this uptrend.

Bank of America and Citigroup Face Mixed Results

Together with success in the investment banking sector and excellently performing in trading and wealth management, Goldman Sachs and the banks in competition attained good results in these sectors. The growth of market shares was largely owing to a 2% increase in equity trading, which was the major single driver of the total trading revenues. The company’s assets and wealth management department also posted 16% revenue growth, again showing its dominance in these fields.

Above expectations, Bank of America grew revenue trading-wise, having a 12% increase in trading revenue. Technology contributed to the increase in trading revenue for Citibank. Being successful in trading equity, an investment bank like Goldman Sachs faced some problems in its fixed-income division. 

The bad side of things was that Bank of America and Citigroup were both reporting poor consumer banking results which caused damage to their overall profits. On the other hand, Citigroup’s net income declined from $3.5 billion to $3.2 billion a year earlier due to the underperformance in certain key areas, among which were bond trading and returns on equity.

Even though Goldman Sachs’ stock had outperformed the other main banks’, the firm still had some headwinds. Goldman Sachs advances in 2024 with strong investment banking results and the firm’s competitive position in trading and wealth management.

GS Lowers LVMH Price Target to €770 

Goldman Sachs dropped its target price for LVMH to €770 from €815 due to the luxury retailer’s weaker Q3 sales figures. Notwithstanding sticking to a “Buy” rating, the change was made a week after LVMH showed a 3% fall in cFX, which was less than the market expected.

LVMH/USD 15 Minute Chart

The company’s organic sales also stagnated by 3% year over year, aside from the predictions for a meagre increase. LVMH’s Fashion and Leather Division, its largest sector, registered a 5.0% gain in cFX, while the Wines & Spirits sector dropped by 7% worse than planned. Hennessy stood out in the US following a pick-up in a trade that saw inventory levels return to normalcy.

Looking ahead to the future, the most recent earnings reports from banks indicate a slow but positive economic environment. A decisive action by the Federal Reserve, which was responsible for the reduction of the interest rate with 50 basis points in September, has sparked a hope of “a gentle descent” on the part of the US economy, and as a result, Goldman Sachs chief David Solomon reported that the initiation of the rate cut has had the effect of cheering up corporate clients. 

Learn how the economic changes are going to affect you, whether you are an investor, a company manager, or an individual who is interested in how the cuts in the interest rate will be felt on the market. Also, stay with us and read more discussions and surveys on prominent directions of the banking industry!

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S&P 500 and Nasdaq fall on Tuesday under bearish pressure

• On Tuesday, the S&P 500 retreated from an all-time high down to the weekly open level in the 5800.0 zone
• On Tuesday in the US session, the Nasdaq was under a lot of pressure, which resulted in a bearish impulse from 20495.0 down to the $20087 level

S&P 500 chart analysis

On Tuesday, the S&P 500 retreated from an all-time high down to the weekly open level in the 5800.0 zone. During this morning’s Asian trading session, the index moved in the 5810.0-5825.0 range. In the EU session, we continue in the same direction without any major volatility. We are holding above the weekly open level, while on the upper side, we have resistance in the EMA 50 moving average. We are getting closer to the beginning of the US session and expect an increase in market volatility.

With the momentum above the EMA 50 moving average, there is room for bullish consolidation. Potential higher targets are 5840.0 and 5860.0 levels. For a bearish option, the S&P 500 would have to break below the weekly open level. Thus, we move to a new low and confirm the bearish pressure on the index. Potential lower targets are 5780.0 and 5760.0 levels. Additional support and the first obstacle to further decline are the EMA 200 and the 5780.0 zone.

Nasdaq chart analysis

On Tuesday in the US session, the Nasdaq was under a lot of pressure, which resulted in a bearish impulse from 20495.0 down to the $20087 level. Below, we encountered the EMA 200 moving average, which stopped further decline and took us back to the 20160.0 level. During this morning’s Asian trading session, the movement of the Nasdaq was in the 20160.0-20230.0 range. We need a new impulse to return to the positive side above the weekly open level.

If the index succeeds in this, it will be in a better position to initiate a bullish consolidation. Potential higher targets are 20300.0 and 20400.0 levels. For a bearish option, we need a negative consolidation below the EMA 200 moving average and the 20150.0 level. With this step, we increase the momentum to continue to the bearish side. After that, it remains for the Nasdaq to start pulling back and look for a new support level. Potential lower targets are 20100.0 and 20000.0 levels.

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ApeCoin and Akita Inu: Targets and Support Levels Today

• The price of ApeCoin continued on Wednesday with a bearish consolidation to the 0.720 support level
• The price of Akita Inu has been in lateral consolidation in the 0.00000010150-0.00000010750 range since yesterday.

ApeCoin chart analysis

The price of ApeCoin continued on Wednesday with a bearish consolidation to the 0.720 support level. Here, we are testing the weekly low, while the picture on the chart suggests that we will see a new low forming. The price pulled back below the EMA 200 moving average this morning, adding to the pressure on ApeCoin. For now, the price has support in this zone and gives signs that it could return above the weekly open level to the positive side.

Potential higher targets are 0.740 and 0.750 levels. At 0.745, we will test the EMA 50 moving average and hope it will support us in staying on the bullish side. For a bearish option, we need a negative consolidation of ApeCoin below the 0.715 level. With that step, we move to a new weekly low and confirm further price pullback. Potential lower targets are 0.710 and 0.700 levels.

Akita Inu chart analysis

The price of Akita Inu has been in lateral consolidation in the 0.00000010150-0.00000010750 range since yesterday. On the downside, we have EMA 50 moving average support. This could influence us to start a bullish consolidation and climb up to the 0.00000011000 level. That move would be a good indicator of strengthening momentum to continue to the bullish side. Potential higher targets are 0.00000011500 and 0.00000012000 levels.

For a bearish option, we need a pullback below the EMA 50 moving average to start. After the Akita Inu moves below, we will see a continuation of the bearish consolidation to the 0.00000010000 level. With that step, we will form a new daily low and confirm the bearish scenario. Potential lower targets are the 0.00000009500 and 0.00000009000 levels.

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Gold and Silver: Gold in a bullish rally this morning

• The price of gold rose to $2,669 last night, forming a new high
• During this morning’s Asian trading session, the price of silver was in a bullish consolidation

Gold chart analysis

The price of gold rose to $2,669 last night, forming a new high. After that, we fell into a sharp sideways consolidation. During this morning’s Asian trading session, the price gained a new bullish momentum and broke above the $2670 level. We continued to $2677, and a weekly high was formed. Currently, gold is at $2676 and is close to climbing to a new weekly high. Potential higher targets are $2680 and $2685 levels.

For a bearish option, the price of gold must first initiate a bearish consolidation back to the $2665 support zone. If the support does not hold and the bearish momentum increases, we expect to see a further pullback below the daily open level. Below, we will have the opportunity to test the weekly open level in order to stay positive. Potential lower targets are $2655 and $2650 levels.

Silver chart analysis

During this morning’s Asian trading session, the price of silver was in a bullish consolidation. In the EU session, the price continued to rise to a new weekly high of $31.80. We managed to break above the $31.60 resistance zone and above Friday’s high. Everything indicates that there are good chances to see further recovery on the bullish side. Potential higher targets are $32.00 and $32.20 levels.

For a bearish option, we expect the price of silver to pull back below $31.60 and test the weekly open level. This time, we need a break below and a price drop to the downside. Such a move will increase pressure on the price to continue its pullback down to the EMA 200 moving average at $31.20. Thus, we move to a new daily low and confirm the bearish momentum. Potential lower targets are $31.00 and $30.80 levels.

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Ethereum Consolidates for New Targets and Prices Wednesday

• The price of Ethereum yesterday had a strong bullish impulse to a new weekly high at the $2686 level

Ethereum chart analysis

The price of Ethereum yesterday had a strong bullish impulse to a new weekly high at the $2686 level. The price fell with a strong bearish impulse back to the $2540 support level in the next hour. We managed to consolidate at $2565 and get support from the EMA 50 moving average there. After that, Ethereum started a bullish consolidation that was above the $2600 level.

This caused the price to rise to $2,630 this morning, forming a daily high there. We have a new resistance at that level and are starting a mild bearish consolidation up to $2600. The EMA 50 moving average is waiting for us in the zone of $2585, and we could test it if the pullback continues. If that is not enough support, Ethereum will have to break below and form a new daily low.

The price stops this morning at the $2630 level, where it loses its bullish momentum

Potential lower targets are $2575 and $2550 levels. The EMA 200 moving average is waiting for us in the $2525 zone as additional support for staying on the bullish side. For a bullish option, Ethereum would have first to break above today’s resistance level. If it succeeds in that intention, the price will form a new daily high and thus confirm that it has the strength to start a recovery.

After that, the chances of starting a bullish consolidation and a jump above $2650 increase. That should be enough momentum to attack the previous high and try to reach the $2700 level. Potential higher targets are $2725 and $2750 levels.

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The Bitcoin price rose to a new October high yesterday

• The price of Bitcoin managed to reach a new weekly high on Tuesday at the $67922 level

Bitcoin chart analysis

The price of Bitcoin managed to reach a new weekly high on Tuesday at the $67922 level. After its formation, we saw a pullback to support at the $65,000 level. The price managed to stabilize at that level and initiate a new bullish consolidation. This morning, we are back above $ 67,000 again, forming a daily high of $67550. At that level, Bitcoin encounters resistance and makes a new pullback to the $67,000 level.

A slight bearish pressure is present on the chart, which could negatively affect this week’s trend. Based on that, we expect a pullback to the $66,000 support level. This is where the EMA 50 moving average joins us, and we hope for its support. If that is not enough, the price will have to make a breakthrough below. Potential lower targets are the $65,000 and $64,000 levels.

The price remains on the bullish side on Wednesday, testing the $67,000 level

At $64000, Bitcoin will try to regain the support of the EMA 200 moving average and remain on the positive side. If the price fails, it will continue down to the $63000 weekly open level. For a bullish option, we expect to hold above $67000 and prepare for a continuation to the bullish side. We can start a bullish consolidation after returning above the daily open level.

The first target is this week’s high at $67922. With a new impulse, Bitcoin climbs to a new October high and thus confirms the continuation of the previous bullish trend. Potential higher targets are the $68,000 and $69,000 levels.

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Tesla’s Robotaxi Unveiling: Stock Drop and Market Uncertainty

Tesla stock was subjected to a strong down-trend because of high hopes for its optimus robot, driverless robot taxi, the Cybercab, during the “We, Robot” event.

Although the car of tomorrow should be on the assembly line by 2027, it will serve as the city transportation with a low price of $29,900 and an operating cost of $0.40. The investors’ mood appeared to have been less positive than expected.

Issues of the lack of specific arrangements about the time of launching, regulatory clearance and needed infrastructure constructions are the other concerns, as well as not mention of any trial of a cheaper electric car (EV). These doubts led to a drop of sixty billion dollars in Tesla’s market capitalisation last Friday, halting the earlier progress to some extent.

Tesla’s Speculative Value: AI Hype vs. Market Reality

Tesla stock has seen a great rise of 70% since April which is mainly due to the excitement over the artificial intelligence and self-driving technology by the company. The first thing to be aware of is the fact that the cost of a stock does not determine the future prospects of a company. The stock is priced by the investors who think a company has good or bad future performance. Before the robotaxi announcement, Tesla’s market value was up to over $760 billion, more than double the value of GM and Ford. The surviving $600 billion—by far the larger piece—is, however on the basis of the speculative projects of Tesla—such as Full Self-Driving technology, robot-taxis, and optimus robot.

The sell-off points to the investor’s cautious behaviour when it comes to Tesla’s exciting but not yet tested new ventures, even as the company still keeps the esteemed status in the electric vehicle market. Tesla will be greatly dependent on its ability to overcome regulatory, technological, and logistical challenges for it to keep its high market capitalisation.

Last Week: Tesla Stock Price History

TSLA shares tumbled 12.9% in the last seven days and ultimately ended the week at $217.81, which became the biggest turnaround it has experienced since April. A deep 8.8% drop on the last working day had a serious impact on the shares as they leveled below the 50-day moving average, a sell signal for stock traders. 

Elon Musk’s unveiling of the Cybercab and Robovan at Tesla’s new robotaxi event triggered the stock depreciation, as he failed to provide clear details about their availability. Analysts showed their indignation toward the loose timeframe, citing the future problem with Tesla’s autonomous development. Investors now shift their focus to Tesla’s upcoming Q3 earnings on October 23, with a decrease of 11% in profits but an estimated 9% growth in sales as the expectations.

Tesla Stock Chart Analysis

The last few days in the Tesla stock market have seen the price fluctuating very much, so we have been sticking to a telly the movements. The opening price of Tesla on October 15 was $218.98, and it was moving in a range between $218.73 and $219.60 before it closed at $219.15 with a fractional gain of 0.07%. The stock, however, had some bad days recently.

On October 11, we witnessed a sensitive decrease when shares plummeted down aggressively. Many shareholders found the Tesla robotaxi event lacking in specific information, about the new products including the optimus robot, causing this drop. The stock was unable to keep up with its 50-day moving average, showing a strong signal of a bear market and causing a sudden rise in the trading volume. A number of the traders appeared to cut out of their trading positions, thereby creating additional downward pressure.

After that, Tesla was simply trying to maintain its current price, so it is going to take the time of this accumulation and swing up and down. We believe there is a degree of uncertainty among the investors till the end of Q3 earnings on October 23, which can, as a whole, bring a surprising correction. Notwithstanding, profit is expected to come down 11% even with a 31% growth in sales, which is indeed quite justified.

Though the EV activities of Tesla still appear to be vibrant, the obscurity connected with the projects of autonomous driving has made us cautious, and we are aware that the stock can also still see volatility shortly.

Can Tesla rise above its problems and get back to full investor confidence?

Pay attention to the latest updates and changes in the market to see if can the EV leader gain back its momentum!

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Nvidia Hits $138 Record High, Driving Global Chip Stocks

Nvidia stock price, for the first time, made a spectacular leap on a Monday to close at $138.07, a 2.4% gain, to reap the rewards of the growing AI market and the GPUs market. Thus, this increase, which followed the ascent it had reached in June, elevated the entity’s market capitalisation to a figure that is only slightly behind Apple’s, the rival in the market, at the second position on Wall Street and of a whopping $3.4 trillion.

The growth of Nvidia has had an impact on Asian chip stocks as well. SK Hynix, a major supplier of high-bandwidth memory chips used in Nvidia’s AI products, increased its stake by 2.8%. Besides, other chipmakers have also seen some encouraging settings as the breezy attitudinal mood connected with Nvidia’s AI-driven technologies was disseminated to the whole sector.

The analyst built this report with more confidence than the investment in other US technology titans such as Microsoft, Meta, Google and Amazon, all of which use the GPUs of Nvidia for their AI operations. Before Nvidia’s stock spike, the stock had either been moving downward or may stagnate. The schedule of the earlier decline of the Q2 financial results, despite the fact that they exceeded analysts’ expectations, threw the stock up in the air and kept the profit numbers down. “The stock of Nvidia during this year is the best choice for the computing hardware investment market,” since Nvidia’s products are by far the best, and they are very important for the transformations in AI and near-space technologies.

The total stock that the investors held until the current year was 180%; this indicates Nvidia’s core position in the AI hardware market and its vital role in developing next-generation technologies.

Can TSMC’s Earnings Boost Nvidia’s AI Surge or Signal a Slowdown?

Taiwan Semiconductor Manufacturing Co. (TSMC), the main driver behind Nvidia’s GPUs, is in preparation for a new disclosure of its financial status, which it will do on Thursday. Analysts are looking forward to a 40% increase in profits, partly due to the expansion of the demand for AI data centers, which makes the revenues of Nvidia swell to be as high as $126 billion for the year. In the meantime, although Nvidia’s extraordinary performance has made a significant contribution to the S&P 500’s record-breaking rise, there are still some cautious investors who require more convincing proof of the sustainability of AI-oriented growth.

Nvidia has just gone through an almost unbelievable decline in September when its stock price saw a sharp nosedive, leading to a loss of $279 billion in market cap. The worries about the fact that returns on investments in AI are not turning out as fast as it was hoped, the plunge was the main reason for enthusiasm fading. Nevertheless, while AI takes a prominent place in industry discussions, investors are keeping a close eye on whether Nvidia’s influence can continue, given the continuing state of unpredictability.

Nvidia Stock Price Chart Analysis 

NVDA/USD 15 Minute Chart

NVIDIA (NASDAQ: NVDA) opened at $138.85 today, October 15, and has experienced a small decrease, which resulted in its price being now at $138.18, down 0.49% or $0.68.

Previously, the stock was even higher than $139, but it has since gone down somewhat, displaying some volatility in the morning session. The investor activity has been solid but not overpowering, with a trading volume of 1.665 million shares.

In our opinion, the current rather sharp movement in the market mirrors a conservative approach towards the stock that might also be due to uncertainties in the larger market or general tech sector. Specifically, the hardware technology that the company has developed around artificial intelligence and high-performance computing allows it to maintain its superior position in the market and thrive in the years to come.

In terms of growth, we think NVIDIA will do well, mainly because of the higher need for AI technologies. However, price swings in the short term may likely be a result of selling after hitting the objective or larger economic factors. We will be on the lookout for new earnings reports and market trends. At present, we expect the stock to rise to $136 before some resistance might be seen when the stock gets near the $140 mark.

If you need to cash in on the power of Nvidia stock, which is on the rise, then now is the best time to go. 

First Majestic Silver Corp (AG) Chart Stock Analysis

AG/USD 15 Minute Chart

We have been closely monitoring First Majestic Silver Corp. (AG) and the stock has displayed some interesting movement lately. On October 15, AG began trading at $6.50, reaching $6.53 at its highest point, and when the day ended, its price was unchanged; that is it, we gained 0.38%. Trading volume was relatively low, with only 36.4K shares traded, indicating limited activity but some optimistic character that drove it up.

October 10-11, we took a very good run at AG by only just below $6.40 to go near $6.70. Despite this, the stock went back to about $6.30 on October 14, most likely because there was some profit-taking or investors were hesitant after the initial surge in the stock price.

Currently, AG is consolidating, almost balanced between the $6.30 support level and the $6.70 resistance level. The recent recovery portends that we may have an imminent upward move again; however, to verify this strong

momentum, the stock must break that $6.70 level. We are monitoring the trading volume and any recent corporate development, which could take the price either way.

Keep up-to-date on market trends and profit reports to consider these probable profits!

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SafeMoon and Litecoin: Levels and Prices for Tuesday

• The price of SafeMoon was quite calm last week, moving in the 0.00002300-0.00002800 range
• On Tuesday, the price of Litecoin rose to $67.81, a new weekly high

SafeMoon chart analysis

The price of SafeMoon was quite calm last week, moving in the 0.00002300-0.00002800 range. The price pulled back over the weekend to the lower support zone. After successfully testing the support zone, a new bullish consolidation was initiated. SafeMoon gains stronger momentum on Monday and surpasses the EMA 200 moving average. This morning’s momentum pushed the price to the 0.00002850 level.

Potential higher targets are 0.00002900 and 0.00003000 levels. For a bearish option, we need a negative price consolidation back to the EMA 200 and 0.00002650. Then, the price needs to drop below into negative territory. With that step, the bearish pressure will intensify, and we can expect to start a further retreat. Potential lower targets are the 0.00002600 and 0.00002500 levels. At 0.00002500, we will test the weekly open level.

Litecoin chart analysis

On Tuesday, the price of Litecoin rose to $67.81, a new weekly high. After that, the price retreated slightly to $66.50, where it has new support. We are now at $67.00 and starting a bullish consolidation. If the momentum holds, we expect to see a further recovery to $67.50. Up there, Litecoin is close to testing the previous high and continuing to a new one. Potential higher targets are $68.00 and $68.50 levels.

For a bearish option, the price should fall below the $66.50 previous support. This will form a new daily low and increase bearish momentum. After that, the initiation of bearish consolidation remains to be seen. Potential lower targets are $66.00 and $65.50 levels. Additional major support could be the EMA 200 moving average in the $65.75 zone.

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