Market Overview - Stocks showed a mixed performance with the Dow Jones Industrial Average up by about 18 basis points, NASDAQ Composite increasing by approximately 0.33%, and S&P 500 rising by 0.3% [2][4] - The Russell 2000 index also climbed into positive territory, reflecting a broader market recovery [3] - The bond market remained stable, with the 30-year T-bond yield down to 4.69% and the 10-year yield around 4.06% [3] Sector Performance - Financials led the large-cap sectors, with notable gains from JP Morgan (up 1.5%), Goldman Sachs, and American Express [4][8] - The technology sector saw mixed results, with Nvidia up nearly 2% and Apple rebounding by 3.76%, while Tesla and other mega-cap tech stocks faced declines [5][6] - Defensive sectors like staples, energy, and materials experienced losses of over 1% [4] Investment Sentiment - Investor sentiment is characterized as cautious, with a significant sector rotation observed from software to hardware and safer areas like materials and energy [10][11] - Small and mid-cap stocks are expected to show greater earnings growth compared to large caps, driven by AI infrastructure and other growth areas [18] BHP Financial Results - BHP reported a 22% increase in first-half profit, with copper now accounting for over 50% of its core earnings, indicating a strategic pivot towards copper production [33][34] - The company plans to increase copper production guidance for this year and next, capitalizing on strong copper prices [36] - BHP's operational performance remains robust, with record production and shipment in iron ore alongside copper growth [36][45] Copper Market Dynamics - The demand for copper is expected to grow significantly, driven by energy transition and digitization, with projections of a 70% increase over the next 25 years [38] - Supply challenges are anticipated due to lower grades and the complexity of new projects, enhancing the demand-supply dynamics for copper [39] Gold and Byproducts - BHP's copper deposits also yield significant byproducts, including gold, which contributed around $2 billion to earnings in the last half [41] - The company is actively seeking to unlock additional value from its portfolio, including a recent $4.3 billion silver stream agreement [42] Iron Ore Negotiations - BHP is engaged in tough negotiations with China's state-owned iron ore buyer but has managed to maintain strong production and price realization [45]

Compensation Overview - The CEOs of the six largest banks on Wall Street all received total compensation exceeding $40 million in 2025, with a collective pay increase of $45.3 million to reach $258 million [1][2] - The majority of the compensation increase was attributed to stock-linked incentives rather than cash [2] Individual CEO Compensation - Morgan Stanley's CEO Ted Pick experienced the largest pay increase of 32%, bringing his total compensation to $45 million, making him the second-highest paid CEO after Goldman Sachs' David Solomon [3] - Wells Fargo's CEO Charles Scharf saw a 28% increase in compensation to $40 million, the lowest among his peers [4] - Citigroup's Jane Fraser's pay rose by 22% to $42 million, while Goldman Sachs' David Solomon's compensation increased by 21% to $47 million [6] Market Performance - Big bank stocks performed well in 2025, with increases ranging from 24% to 64%, primarily driven by rising revenues from Wall Street divisions and regulatory easing under the Trump administration [5] - The optimism for 2026 remains high among bankers regarding dealmaking, lending, and trading, despite concerns over the impact of artificial intelligence on financial services [7] Investment Banking Revenue - Investment banking revenue is currently strong, with figures reaching 70% of last year's total for the first quarter, indicating a healthy pace of activity [8]

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Bank of America agreed to pay CEO Brian Moynihan $41 million for 2025, the bank disclosed Friday. With that, a perhaps surprising trend has emerged among the six largest U.S.-based global systemically important banks: The longer a CEO has served, the lower his or her raise was in 2025, generally. Jamie Dimon, who has led JPMorgan Chase since 2006, received a 10.3% ...

Core Viewpoint - Goldman Sachs is planning to eliminate diversity rules for its board of directors, reflecting a broader retreat from diversity, equity, and inclusion (DEI) initiatives in corporate America [1][4]. Group 1: Changes in Diversity Policies - The bank will remove requirements related to race, gender identity, and sexual orientation from its director selection guidelines later this year [1]. - Goldman Sachs previously dropped a rule that prohibited taking companies public without diverse boards, stating that the policy had "served its purpose" [2][5]. - The bank has adjusted its diversity campaign "One Million Black Women," a $10 billion program, by removing references to race from its homepage [6]. Group 2: Board Composition and Shareholder Sentiment - Currently, five out of the bank's 14 board members are women, while 12 members are white [2]. - Only 2% of Goldman Sachs shareholders supported a motion for an audit of its race-based initiatives at the last annual meeting [5]. - The changes in policy follow pressure from the conservative National Legal and Policy Center (NLPC), which has advocated for a shareholder vote on dropping DEI initiatives [4]. Group 3: Leadership Statements and External Influences - David Solomon, the CEO, previously emphasized that DEI was a "top priority" for Goldman Sachs [7]. - The Trump administration's influence has contributed to the pressure on companies, including Goldman Sachs, to reduce DEI initiatives [6].

股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：安东 澳大利亚央行2月份政策会议的纪要强调，"不可能对隔夜拆款利率的任何特定路径抱有高度信心"。但 高盛首席经济学家Andrew Boak表示，有理由认为再次加息的可能性较大。澳大利亚央行的预测是基于 一项技术性假设，即需要进一步加息。他表示，该行还强调，产能压力将继续加大。澳大利亚央行也淡 化了金融状况的限制性。Boak预计，澳大利亚央行将在5月份进行第二次也是最后一次25个基点的加 息。 ...

高盛首席经济学家哈哲思（Jan Hatzius）在一份报告中表示，在全球经济增长方面，受关税影响消退、 财政支持和金融环境宽松的支撑，预计将超过普遍预期。他预计，多数经济体的通胀率将更接近目标水 平，这反映出关税和官方定价的影响减弱，以及薪资和租金增长放缓。尽管高盛认为近几个月科技行业 的就业人数显著下降，但该行并不认为会出现由人工智能（AI）驱动的就业末日。美国的经济指标令 人鼓舞，经住房扭曲因素调整后的1月份核心CPI同比涨幅为2.6%，创下后疫情时代的低点。高盛预 计，在美联储主席鲍威尔剩余的任期内，美联储将维持利率不变，但预计在可能由美联储主席提名人凯 文·沃什（Kevin Warsh）领导的委员会领导下，将在6月和9月降息25个基点。 责任编辑：王永生 高盛首席经济学家哈哲思（Jan Hatzius）在一份报告中表示，在全球经济增长方面，受关税影响消退、 财政支持和金融环境宽松的支撑，预计将超过普遍预期。他预计，多数经济体的通胀率将更接近目标水 平，这反映出关税和官方定价的影响减弱，以及薪资和租金增长放缓。尽管高盛认为近几个月科技行业 的就业人数显著下降，但该行并不认为会出现由人工智能（AI）驱动的 ...

格隆汇2月17日｜知情人士称，高盛正准备将种族、性别认同、性取向和其他多元化相关因素从其董事 会评估潜在候选人的标准中剔除。自去年上任以来，美国总统特朗普发起了一场广泛的运动，反对政府 和私营部门的多元化、公平和包容(DEI) 做法，称这些计划具有歧视性。在特朗普政府的压力下，包括 摩根士丹利 和花旗在内的几家企业巨头软化了其多元化承诺。高盛是应保守派激进分子、非营利组织 国家法律与政策中心（National Legal and Policy Center）的要求做出这一决定的，该中心是高盛的一个 小股东，并补充说该团体于去年9月提交了一份提案，敦促该公司取消DEI标准。 ...

Group 1: Norwegian Cruise Line Holdings Ltd. (NCLH) - Elliott Investment Management has acquired a significant stake exceeding 10% in Norwegian Cruise Line Holdings Ltd. (NCLH), positioning itself as one of the largest shareholders and indicating a push for operational changes and board representation [2][9] - Elliott is collaborating with Adam Goldstein, the former Chief Operating Officer of Royal Caribbean, as a potential board nominee to influence management and address NCLH's recent underperformance compared to industry peers like Royal Caribbean [3][9] - Norwegian Cruise Line announced a long-term agreement with Fincantieri to construct three new ships for delivery between 2036 and 2037, aiming for disciplined fleet growth and leverage reduction [3] Group 2: US Consumer Landscape - The US consumer landscape is under significant pressure, with student loan serious delinquencies reaching a record 16.2% in Q4 2025, up from 14.3% in the previous quarter, indicating a sharp increase in financial distress among borrowers [4][9] - Total nominal household debt has risen to $18.8 trillion, with low-income borrowers and individuals aged 18-49 experiencing the most distress, which may negatively impact discretionary spending in the first half of 2026 [5] Group 3: Goldman Sachs Group Inc. (GS) - Goldman Sachs has decided to eliminate its formal board diversity policy, which mandated that companies it took public have at least two diverse directors, citing recent legal developments as the reason for this change [6][7] - Despite removing the formal mandate, Goldman executives stated that the policy had served its purpose as a catalyst for change and will continue to advocate for diverse perspectives through informal advisory channels [7] Group 4: Global Markets - Japanese 10-year government bond yields fell to 2.165%, the lowest level in over a month, following disappointing Q4 2025 GDP growth data of only 0.1%, which was below the expected 0.4% [8][9] - Global equity futures are trading lower, with S&P 500 E-mini contracts down 0.3% and Nasdaq futures down 0.6%, as investors express concerns over structural risks related to rapid artificial intelligence adoption [9][10]

Goldman Sachs plans to drop DEI from board-candidate criteria, WSJ reports | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Goldman Sachs logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration [Purchase Licensing Rights, opens new tab]- Companies[Goldman Sachs Group Inc]Follow[Citigroup Inc]Follow[Morgan Stanley]FollowFeb 16 (Reuters) - Goldman Sachs [(GS.N), opens new tab] is preparing to eliminat ...

Race, sexual orientation, and other types of DEI factors will no longer be taken into account when the board's governance committee identifies new potential directors. ...