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booming stock market and growing appetite in corporate boardrooms and executive suites to pursue mergers or public offerings. Still, Chief Executive David Solomon said Tuesday the bank was being cautious about the enthusiasm.A Historic Crypto Selloff Erased Over $19 Billion, but Two Accounts Made $160 MillionLendingTree CEO Dies in ATV Accident on Family FarmFord Cuts Production of Five Trucks, SUVs After Fire at Aluminum SupplierPolaris to Sell Indian Motorcycle Business to Private-Equity FirmMajor Media Outlets Rebuff New Pentagon Press Policy“Taking a step back, there is no question there’s a fair amount of investor exuberance at the moment,” Solomon said. “While I feel good about the forward outlook on balance, the market operates in cycles and disciplined risk management is imperative. We are especially vigilant in times like these.”The Wall Street giant is now planning another round of layoffs, according to people familiar with the matter.Goldman employees on Tuesday received a memo signed by the firm’s top brass including Solomon that the firm will constrain head-count growth through the end of the year.The jobs cuts will include lower performers, as the bank typically does, and roles that could be more efficient if replaced by artificial intelligence, the people said. The memo also laid out a broad plan for transforming the firm’s operating system with AI.Layoffs are expected to occur during the next few weeks, and cost savings will be redirected into compensation for existing employees and new hires, the people said.For the third quarter, Goldman’s profit jumped 37% to $4.1 billion. That amounted to $12.25 a share, surpassing the $11.03 a share analysts expected.Revenue rose 20% to $15.18 billion, also topping analyst expectations.Operating expenses increased 14%. Goldman’s shares were down 1.7% in afternoon trading.Financing activity on Wall Street is surging in large part because mergers are on the rise and buyers are relying on borrowing to execute those deals. There’s a pickup in private-equity deals, including the record $55 billion for Electronic Arts that Goldman advised on last month. Then there are the massive investments occurring in artificial intelligence, building out data centers and other infrastructure.Goldman’s global banking and markets division, its biggest group, has posted record revenue through the first nine months of the year.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,669.73 +15.01 (+0.23%)Dow 3046,383.83 +316.25 (+0.69%)Nasdaq22,648.14 -46.47 (-0.20%)Russell 20002,492.04 +30.62 (+1.24%)VIX19.55 +0.52 (+2.73%)Gold4,162.70 +29.70 (+0.72%)PortfolioSign in to access your portfolioSign inTop gainersNVTS Navitas Semiconductor Corporation 12.75 +2.78 (+27.88%)CRML Critical Metals Corp. 28.95 +5.66 (+24.33%)ERIC Telefonaktiebolaget LM Ericsson (publ) 9.83 +1.65 (+20.26%)ORLA Orla Mining Ltd. 13.47 +1.98 (+17.23%)FLNC Fluence Energy, Inc. 18.66 +2.77 (+17.45%)Top losersALAB Astera Labs, Inc. 169.94 -29.59 (-14.83%)DGNX Diginex Limited 23.18 -2.52 (-9.81%)ZLAB Zai Lab Limited 29.02 -2.22 (-7.09%)TKC Turkcell Iletisim Hizmetleri A.S. 5.53 -0.38 (-6.51%)GRND Grindr Inc. 12.48 -0.76 (-5.74%)Most activeBITF Bitfarms Ltd. 5.79 +0.40 (+7.42%)BBAI BigBear.ai Holdings, Inc. 9.07 +0.26 (+2.97%)NVDA NVIDIA Corporation 183.44 -4.89 (-2.59%)PLUG Plug Power Inc. 3.9050 +0.0050 (+0.13%)NVTS Navitas Semiconductor Corporation 12.75 +2.78 (+27.88%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 112,628.03 -2,377.34 (-2.07%)TMQ Trilogy Metals Inc. 9.59 +3.03 (+46.18%)ALAB Astera Labs, Inc. 170.84 -28.69 (-14.38%)NVA Nova Minerals Limited 63.94 +29.78 (+87.18%)NVTS Navitas Semiconductor Corporation 12.82 +2.85 (+28.59%)Top economic events