David Solomon, CEO of Goldman Sachs, warned on September 16 that revenues from fixed-income, currencies and commodities (FICC) trading weakened in the third quarter. The U.S. bank expects non-compensation costs to rise by more than $500 million quarter-over-quarter, driven by increased client activity and technology investments. These challenges caused Goldman Sachs shares to drop 4%, dragging the broader banking sector down. Meanwhile, Goldman Sachs’ equities trading division showed notably strong performance. JPMorgan Chase is projecting mid-to-high teens percentage growth in trading revenue for the third quarter of 2026, while Bank of America anticipates relatively flat results.
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