HomeFinancial MarketsGoldman Sachs CEO Expects IPOs to Bolster Capital Markets

Goldman Sachs CEO Expects IPOs to Bolster Capital Markets

Goldman Sachs CEO David Solomon is confident that the incoming wave of initial public offerings (IPOs) will help to fuel a “pickup in the capital markets activity” in the coming fall season. “Obviously an environment with more capital markets activity is a good environment for Goldman Sachs,” Solomon stated in an interview.

Solomon’s comments come as the investment firm faces a tumultuous financial situation, having reported its weakest quarterly profits in three years. This is the latest hurdle in a two-year slump for Goldman Sachs, which has led to criticism aimed at Solomon and his leadership style. Goldman Sachs’s stocks are down 5.5% this year.

Arm Holdings, the chip designer owned by SoftBank Group, as well as online grocery shopping platform Instacart have been among the best-performing IPOs this year, boosting hopes for further success this year.

Home Sales Plummeted in August According to Pending Data

Pending home sales for August were down 7.1% from the previous month, data from the National Association of Realtors revealed. This far outpaces the...

Stocks Fall After the Release of GDP Data

U.S. stocks declined on Thursday as investors digested the latest round of GDP data. Estimates on Thursday showed that the U.S. economy's GDP for...

Hyundai and Kia Recall Over 3 Million Vehicles Due to Fire Risk

Hyundai and Kia are in the process of recalling over 3.4 million vehicles in the United States due to a fire risk. Both automakers...