Goldman Sachs President drops blunt take on stocks as market retreats

Wednesday, November 19, 2025

There's no denying that U.S. stocks have had a rough few sessions, largely because of anxiety about the artificial-intelligence-fueled rally. You have worries of overbuilding, overvaluation and circular financing. Then, you have Alphabet CEO Sundar Pichai saying that "irrationality" in the AI business has made it so "no company is going to be immune" if the AI bubble pops.

One thing is for sure: If AI on the way to popping, earnings from the world's largest company is sure to show that today. Nvidia is slated to report earnings after the market close today, offering a glimpse into the staying power of the AI boom.

Expectations are high. Per Bloomberg, analysts are looking for the chip giant to report adjusted earnings per share of $1.26 on revenue of $55.2 billion, increases of 55% and 57% year over year. Nearly 90% of the revenue is expected to stem from its data-center business, while the slim remainder is expected to come from other businesses like gaming.

Wednesday Reading:.

• Fund manager Tepper exits stake in soaring tech giant
• T.J. Maxx, Marshalls buck major customer problem
• Nvidia, Microsoft deal takes ‘circular’ financing to new level
• Amazon’s Zoox makes a move on Tesla Robotaxi territory
• Samsung’s Galaxy S26 bets big on thin phones, in-house chips
• Wyndham, Hilton workers strike ahead of holiday travel
• Palantir fans: You’re not going to like what just happened

Hype alone might be enough to keep the Nasdaq (+0.4%) rolling across the finish line, but the same might not be the case for the S&P 500 (+0.17%) and Dow (-0.28%), which are looking to avoid a fifth consecutive day of losses. But  trading today might not matter much. The rodeo ride comes after the bell rings -- and investors' reactions could be dramatic, whether NVDA's results are great for the longs or the shorts.

TurboTax Via TheStreet

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  -- Noah Weidner, Markets Reporter

Goldman Sachs President drops blunt take on stocks as market retreats

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