Diamonds and Dogs
Goldman Sachs (GS) up 3% following strong second-quarter earnings on strength in the company's powerhouse trading businesses, as investment banking revenue declined sharply. Investment banking had a good quarter as well. Goldman views the second-quarter performance as a possible bottom in quarterly earnings for the year. Goldman has built a large deposit platform under the Marcus brand and added credit cards while planning to roll out checking services later this year.
Google (GOOGL) split not helping the stock. Google is down 2% after splitting its stock 20 for 1. Investors look at stock splits as a bullish sign that a company is optimistic about the outlook for its business. It also allows investors to buy single shares at lower levels. The stock split also opens the door for giants like Alphabet and Amazon to gain entry to the Dow Jones Industrial Average.
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