Tag: investment banking

With investment-banking business surging in the first quarter, big-bank bosses have made no secret of their enthusiasm for Wall Street, and they're holding out fresh hope for a sustained resurgence in trading.

Across the Pacific, the investment banking industry is not exactly booming.

Wall Street bosses are finally seeing signs of a broader turnaround in investment banking, but they are not yet cheering. In the first quarter, the investment banking divisions of the biggest U.S. banks grew strongly, with revenues and fees rising sharply. The capital markets are leading the recovery, executives say.

Goldman Sachs said Monday that its first-quarter profit rose by double digits, buoyed by the general performance of the stock and bond markets in the first few months of the year. Goldman Sachs has struggled through much of 2023, as higher interest rates have prevented the firm from making deals and acquisitions. The New York-based investment bank reported a profit of $4.13 billion, up 28% from a year earlier.

Goldman Sachs' first-quarter profit rose 28% as the Wall Street giant made strides in investment banking, trading and wealth management.

Reddit's IPO could open the door for others. Here are two investment banking stocks to buy today before they surge.