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Earnings Season Starts!

Earnings Season Starts!

Information is not investment advice

What will happen?

The much-awaited earnings season is about to start! The first company that will deliver its financial results for the second quarter will be Goldman Sachs.

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Goldman Sachs is an American multinational investment bank. It is going to deliver its Q2 financial results on July 13 at 14:30 and 15:30 GMT+3. The GS’s forecast is $9.96 earnings per share. Last time, the bank beat the estimates due to the rise in wealth and consumer banking revenues after the Covid-19 crisis. However, this time, the result may be weaker than expected as Wall Street analysts have predicted trading revenue at top US banks slumped by 28%.

If Goldman Sachs reveals better-than-expected EPS, it may break above the psychological mark of $380.00, which will open the doors towards the high of June 4 at $390.00. Support levels are the low of June 8 at $360.00 and the 100-day moving average of $350.00.

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