economy
The S&P paces to snap a 2-day skid, and Goldman beefs up its asset management unit
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- The S&P 500 is moving higher, potentially breaking a two-session losing streak, aided by a consumer price index report suggesting fewer interest rate hikes.
- Goldman Sachs is acquiring Neos Investments for up to $2.25 billion to bolster its asset management division and recurring fee revenue.
- Tech earnings from Cisco and others are expected, along with the producer price index data.
- The AI trade saw mixed results, with chipmakers rallying but software and hyperscalers weighing on the market.
- Goldman Sachs aims to become a top eight active ETF provider with the addition of Neos' assets.