Goldman Sachs Says Crypto Drawdown Has Little Impact on Economy [Business News Network (BNN) (Canada)]
Goldman Sachs Group, Inc. (The) (GS)
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am
Check Earnings Report
US:NYSE Investor Relations:
goldmansachs.com/investor-relations
Company Research
Source: Business News Network
That's according to economists at Goldman Sachs Group Inc., who note that the recent selloff in digital assets is “very small” relative to overall household net worth, which last year stood at $150 trillion. Crypto markets have slumped in value to about $1.3 trillion, down from $2.3 trillion late last year. “We therefore expect any drag on aggregate spending from the recent declines in cryptocurrency prices to be very small as well,” the economists led by Jan Hatzius wrote in a note on Thursday. Amid a selloff in cryptocurrencies and the stock market, economists and market watchers are attempting to tally just how much the US consumer could be hit. One study has found that every dollar lost in stocks leads to a 3-cent reduction in spending. After the five-month selloff, that equates to about $300 billion zapped this year. The impact on wealth is receiving renewed attention because consumer spending makes up 70% of GDP, and many on Wall Street are predicting the economy could fall
Show less
Read more
Impact Snapshot
Event Time:
GS
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
GS alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
GS alerts
High impacting Goldman Sachs Group, Inc. (The) news events
Weekly update
A roundup of the hottest topics
GS
News
- Czech billionaire ‘very serious' about bid for Royal Mail [Yahoo! Finance]Yahoo! Finance
- Watch Live: Countdown To The Most Important 'Halving' In Bitcoin History [zero hedge]zero hedge
- Currency Crash: How Millennium Management Made $40 Million Betting Against the Egyptian Pound [Yahoo! Finance]Yahoo! Finance
- Kent Outdoors Announces $100 Million Credit Facility From Eclipse Business Capital to Support Growth Strategy [Yahoo! Finance]Yahoo! Finance
- Wells Fargo bond saleswoman sues over 'unapologetically sexist' workplace [Yahoo! Finance]Yahoo! Finance
GS
Earnings
- 4/15/24 - Beat
GS
Sec Filings
- 4/19/24 - Form 424B2
- 4/19/24 - Form 424B2
- 4/19/24 - Form 424B2
- GS's page on the SEC website