NEW YORK, Feb 22, 2026, 13:53 (EST) — Market closed
- Goldman Sachs shares inched up by the close on Friday. U.S. markets will be closed Sunday.
- Traders continue to weigh the court’s tariff ruling alongside new inflation figures—both could shift expectations for when rate cuts might land.
- Nvidia’s earnings land Wednesday, with U.S. producer price data following on Feb. 27—both on the radar as the next key catalysts.
The Goldman Sachs Group Inc ended Friday up 0.61% at $922.24. Shares moved within a range of $900.57 to $922.37, with around 2.0 million trades crossing the tape. 1
This is relevant right now, with Goldman typically tracking changes in risk appetite and interest rate bets. Both have been unsettled by the latest burst out of Washington and fresh inflation signals, just ahead of Monday’s open.
Stocks in the U.S. ended Friday in positive territory after the Supreme Court tossed out President Donald Trump’s global tariffs, dialing back a key market worry. Trump slammed the decision as a “disgrace,” vowing to slap a 10% global tariff for 150 days. “Today is a removal of some uncertainty, and we’re on to the next phase,” said Mike Dickson, head of research and quantitative strategies at Horizon Investments. 2
Financial shares tracked the wider market mood. The Financial Select Sector SPDR ETF climbed 0.65% Friday. JPMorgan tacked on 0.91%, Morgan Stanley improved by 0.61%, and Bank of America picked up 0.61%. Wells Fargo outperformed, advancing 1.28%.
Inflation just isn’t playing along. December’s core personal consumption expenditures price index, which leaves out food and energy, climbed 0.4%, topping what economists had penciled in, according to Reuters. Legal services stood out: Pooja Sriram at Barclays called out a whopping 12.0% jump for January, but cautioned that the category is notoriously volatile. 3
Goldman sees pros and cons in the current environment. More rate swings have the potential to juice trading activity. Still, with inflation stubborn and rate cuts possibly delayed, borrowing stays expensive—and that’s enough to make some boards rethink deals, stalling the pipeline.
This year’s IPO pipeline isn’t exactly steady. According to Reuters, a number of 2026 U.S. IPO hopefuls have either scaled back, postponed, or scrapped offerings — despite Goldman analysts projecting the annual total might jump to 120. They’ve also flagged valuation risks, noting the recent rout in software names. 4
Still, Monday isn’t shaping up as a smooth ride. Any new tariff headline could bring back the kind of choppy trading that’s already kept companies sidelined in both stock and bond markets. And if inflation jumps unexpectedly again, the rate picture gets messy all over.
Plenty fills the calendar ahead of banks’ next major catalyst. Nvidia drops its quarterly results Wednesday—investors watching closely as markets weigh the returns on hefty AI investments, Reuters reported. 5
Goldman and its peers in financials are eyeing one more major catalyst this week, with the Labor Department set to post January’s Producer Price Index at 8:30 a.m. ET on Friday, Feb. 27. 6
