Goldman Sachs Clobbers Earnings Estimates

Equity futures are pointing higher this morning after Goldman Sachs clobbered earnings expectations for the first quarter.

The controversial Wall Street titan posted quarterly revenue of $12.78 billion, a 36% increase from Q109 and against estimates of $11.07 billion. Earnings per share were $5.59 versus expectations of $4.01, reflecting a 91% advance from Q109.

“Our performance in the first quarter reflects more signs of growth across the economy and the strength of our client franchise,” said Lloyd Blankfein, chairman and CEO.

Dow futures are up 21 points to 11,065 and S&P 500 futures are up 5.00 points to 1,200.50. The 2 year Treasury note is -0-01 at 99-31 yielding 1.012% and the 10 year note is -0-05 at 98-13 yielding 3.821%. Meanwhile, WTI crude oil is $1.12 higher at $84.25 per barrel and Spot Gold is up $7.80 to $1,143.55.

Later today, Apple, J&J, and Coca Cola should each report their Q1 earnings.

Key Events Today:

No major economic data.

Treasury Auctions:rn

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