New York, February 16, 2026, 18:04 ET — Market closed.
- U.S. stock markets are shut for Presidents Day; trading resumes Tuesday.
- Goldman shares ended Friday slightly higher after a wide intraday swing.
- Investors are weighing leadership churn and a packed U.S. data calendar.
Goldman Sachs (GS) shares last closed up 0.07% at $905.14 on Friday after ranging from $869.00 to $905.99. U.S. markets were closed on Monday for Washington’s Birthday, also known as Presidents Day. 1
The move comes as Goldman disclosed that Kathryn H. Ruemmler will retire as chief legal officer and general counsel effective June 30, a filing showed. 2
Ruemmler’s departure followed U.S. Justice Department documents detailing her past relationship with Jeffrey Epstein, Reuters reported. Chief executive David Solomon told CNBC: “I reluctantly accepted her resignation, but I respect her decision.” The disclosures have also pulled in other big banks, including UBS and JPMorgan, Reuters said. 3
Why this matters now is timing. Bank shares have been trading off a mix of rate-cut wagers and a fresh bout of tech-led volatility, and Goldman is more exposed than most to swings in market activity through its trading and dealmaking businesses. On Friday, softer U.S. inflation data nudged up bets on a June rate cut by 25 basis points — a quarter percentage point — even as investors cut risk into the long weekend, Reuters reported. 4
Separately, Goldman’s own read on risk appetite has been turning heads. A Goldman client note showed hedge funds bought a record amount of Asia equities in the week to Friday, with gross leverage — a measure of how much exposure funds run versus their capital — rising to a five-year high of 307%, Reuters reported. 5
For Goldman, the near-term watch is whether the legal transition stays contained to the top job or bleeds into broader reputational noise. The role sits at the center of regulatory work and client confidence, and those rarely move in straight lines.
But the bigger risk for the stock this week may come from macro surprises rather than headlines. A hotter-than-expected run of U.S. data could push yields higher and unwind rate-cut trades; a downside shock can hit risk assets and slow issuance and advisory activity.
The next markers come quickly once trading resumes: U.S. retail sales are due Tuesday, the Federal Reserve’s meeting minutes on Wednesday, and a GDP update on Friday, according to Scotiabank’s calendar. 6
