Goldman Sachs is set to report fourth-quarter earnings, with Wall Street expecting earnings of $11.67 per share and revenue of $13.79 billion. Trading revenue is projected to be $2.93 billion for fixed income and $3.70 billion for equities, while investment banking fees are estimated at $2.58 billion.

The bank is poised to benefit from market volatility caused by President Trump’s policies, with trading desks seeing positive results. JPMorgan Chase exceeded expectations in the fourth quarter, with equities and fixed income trading revenue surpassing estimates by a combined $460 million.

Global investment banking revenue was 12% higher than the previous year, providing a potential boost to Goldman’s advisory business. The asset and wealth management division is also expected to see gains due to buoyant stock market levels in the quarter. Additionally, a deal to offload the Apple Card business to JPMorgan is projected to boost quarterly results by 46 cents per share.

Read more at CNBC: Goldman Sachs (GS) Q4 2025 earnings