Goldman Sachs beats profit estimates

Goldman Sachs kicked off the first-quarter earnings season with a robust 18% jump in profit, reaching $5.4 billion.

The bank's equities team posted record results, but this was offset by a disappointing performance in its fixed-income, currency, and commodities division.

CEO David Solomon noted that while M&A activity remains resilient, the ongoing war in Iran is creating significant market uncertainty.

Investors remain cautious as the bank increases its provisions for potential credit losses amid tightening funding conditions.