Earnings PerformanceGoldman Sachs outperformed on earnings, trading up ~6% versus BKX up ~4%, after delivering a strong beat on GBM top-line strength, better-than-expected AWM, and lower comp expense.
Regulatory EnvironmentGoldman Sachs is expected to be among the biggest beneficiaries of a more balanced regulatory environment, especially a change in regulatory attitudes toward the capital markets business.
Strategy ExecutionGoldman Sachs is expected to deliver more successful quarters due to its strong position in the capital markets cycle.