Excerpt from: US Markets
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| July 14, 2009 | | Spread betting and contracts for differences on individual equities | Goldman Sachs is enjoying a healthy second quarter profit of $3.4 billion. Indeed, the profits would have been even high if not for a dividend payment made by the bank. This news helped send U.S. stock futures higher earlier today (although they were unable to hold onto gains).
Goldman is not the only bank expected to see nice profits for the second quarter. The Financial Times reports on expected bank profits:
US banks are expected to produce healthy second quarter earnings
with a boom in equity and debt issuance helping offset continued losses
on toxic assets. The strong performance in trading and underwriting in
the first quarter is expected to be exceeded in the three months to
June.
It appears that the worst is over for banks as bad debts go through the system and as strong demand for banking products continues.
| Topic Tags: bank profits, contracts for differences, Goldman Sachs, individual equities, second quarter earnings, spread bets stock market, spread betting | |
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