Goldman Sachs Q3 profit surge caps strong earnings week for major US banks

Goldman Sachs $GS delivered better-than-expected Q3 results on Tuesday, adding to gains posted by JPMorgan Chase $JPM and other large banks. However, equity and fixed-income trading posted softer performance, signaling headwinds in capital markets.

The strong earnings season from major financials contrasts with weakness in semiconductor stocks and tech valuations, prompting a sector rotation away from memory-chip equities toward traditional banking positions.

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