Earnings Boost: Why Goldman Sachs shares jumped to record highs

Goldman Sachs shares surged over 7% to record highs after Q2 earnings beat Wall Street expectations, with net profit of $6.63 billion. Equity trading revenue jumped 72% YoY to a record $7.42 billion, FICC trading rose 32%, and investment banking fees climbed 55%, supported by revival in M&A and IPO activity. Wealth management revenue grew 20%, and management cited the ongoing AI investment cycle as a long-term growth catalyst.