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The stock market is where investors trade shares of public companies. It serves as a barometer for economic health and corporate performance. Investors can potentially grow wealth through stock appreciation and dividends. However, the market can be unpredictable, with prices influenced by various economic and global factors.

The financial sector is a crucial component of the stock market. It includes banks, insurance companies, and investment firms. These institutions play a vital role in the economy by managing money and facilitating transactions. Financial stocks can be attractive because of their potential for steady dividends and growth. They often benefit from rising interest rates and economic expansion.

Investing in financial stocks can offer stability and income through dividends. These stocks may also provide growth opportunities during economic upswings. However, they can be sensitive to economic downturns and regulatory changes. Investors should consider factors like interest rates and economic indicators when evaluating financial stocks. As with all investments, thorough research and understanding of risk tolerance are essential. Having said that, here are two financial stocks to watch in thestock market todayafter reporting earnings.

Financial Stocks To Buy [Or Avoid] Today

• The Goldman Sachs Group Inc. (NYSE: GS)
• BlackRock Inc. (NYSE: BLK)

The Goldman Sachs Group (GS Stock)

To start, The Goldman Sachs Group Inc. (GS) is a global investment banking and financial services firm. It provides a wide range of services including investment management, securities, and consumer banking. Goldman Sachs serves corporations, financial institutions, governments, and high-net-worth individuals worldwide.

Today, Goldman Sachs Group reported its most recent second-quarter 2024 financial results. Diving right in, the company announced earnings of $8.62 per share, along with revenue for the quarter of $30.93 billion. This was versus Wall Street estimates for Q2 2024, which were earnings of $8.52 per share, and revenue estimates of $12.68 billion. In addition, revenue increased by 18.74% compared to the same period, the previous year.

Since the start of 2024, shares of Goldman Sachs stock have gained by 25.37% YTD. While, following the earnings release on Monday morning, GS stock is trading higher on the day by 1.44%, at $486.80 a share.

[Read More] Best AI Stocks To Buy Now? 2 To Watch In July 2024

BlackRock (BLK Stock)

Next up, BlackRock Inc. (BLK) is the world’s largest asset management firm. It offers investment and technology services to institutional and retail clients globally. BlackRock manages a diverse range of products including mutual funds, ETFs, and alternative investments.

BlackRock also reported its second quarter 2024 financial results on Monday morning. In detail, the company announced better-than-expected Q2 2024 financial results, notching in earnings of $10.36 per share, with revenue of $4.81 billion. This is compared to consensus estimates for the quarter, which were an EPS of $9.96, and revenue estimates of $4.87 billion. Moreover, revenue increased on a year-over-year basis by 7.66%.

In 2024 thus far, shares of BLK stock have increased by 3.96% year-to-date. Meanwhile, on Monday morning, BlackRock stock is trading higher, up 0.46% on the day, trading at $832.00 a share.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.