This took a bit of the edge off the rally led by financials and tech today.
Goldman is a strong bellwether for the US financial markets, since they make most of their earnings by ravaging all participants in them. While the fish can still swim, so the squid can feed. So like it or not, as Goldman goes, so the US equity market probably goes, at least in the short term.
It will take all their resources to keep the winning streak intact.
Barrons
GS: Whitney Cuts Q4, ‘10 Estimate
By Tiernan Ray
Joining the string of Goldman Sachs (GS) estimate cuts, Meredith Whitney Advisory Group today lowered its EPS estimate for Q4 from $6 to $5.50, though that’s still above the $5.42 average estimate.
For this year, Whitney lowered her estimate to $19.20 from $19.65, though that’s above the average $18.78 estimate.Previously: GS: Pali Cuts Estimates on TradingJoining the string of Goldman Sachs (GS) estimate cuts, Meredith Whitney Advisory Group today lowered the EPS estimate for Goldman’s Q4 from $6 to $5.50, though that’s still above the $5.42 average estimate.
For this year, Whitney lowered her estimate to $19.20 from $19.65, though that’s above the average $18.78 estimate.
Saint Michael the Archangel, defend us in battle; be our protection against the wickedness and snares of the devil. May God rebuke him, we humbly pray: and you, Prince of the heavenly host, by the power of God, thrust into Hell Satan and all of the other evil spirits who prowl about the world seeking the ruin of souls.