Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.

Published 21 Sep 2026, 10:18 UTC. Updated 21 Sep 2026, 15:38 UTC.

A team at the bank, led by Ben Snider, wrote in a recent note that they see S&P 500 earnings per share growth slowing to 11% in 2027 and 2028.

Directly affected

GS Goldman Sachs Group
Named in this report.

Indirectly affected

ALLY ALLY FINANCIAL INC
GA selected ALLY as a RELATED security because its canonical security name directly matches this event's themes: financial. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
BAC BANK AMERICA CORP
GA selected BAC as a RELATED security because its canonical security name directly matches this event's themes: bank. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
BMO BANK MONTREAL MEDIUM
GA selected BMO as a RELATED security because its canonical security name directly matches this event's themes: bank. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
CM CANADIAN IMPERIAL BANK OF CO
GA selected CM as a RELATED security because its canonical security name directly matches this event's themes: bank. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
CRBG COREBRIDGE FINANCIAL INC
GA selected CRBG as a RELATED security because its canonical security name directly matches this event's themes: financial. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
EFC ELLINGTON FINANCIAL INC
GA selected EFC as a RELATED security because its canonical security name directly matches this event's themes: financial. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.

Price reaction, T-5 to T+3

Ticker	T-5	T-3	T-1	T0	T+1	T+2	T+3
GS	—	—	—	—	—	—	—
ALLY	—	—	—	—	—	—	—
BAC	—	—	—	—	—	—	—
BMO	—	—	—	—	—	—	—
CM	—	—	—	—	—	—	—
CRBG	—	—	—	—	—	—	—
EFC	—	—	—	—	—	—	—

A team at the bank, led by Ben Snider, wrote in a recent note that they see S&P 500 earnings per share growth slowing to 11% in 2027 and 2028.

Source: MarketWatch

How far Ally Financial (ALLY) has moved since 21 Sep 2026

Since the first closing price after “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.,” Ally Financial (ALLY) is -3.95%. The S&P 500 fund (SPY) is -0.88% over the same days, a -3.07% difference versus the market.

ALLY

SPY

Official trades in Ally Financial (ALLY) around 21 Sep 2026

Rohit Khanna sell Bank Of America (BAC) ($1,001 - $15,000). That is 12 days before publication, inside 30 days. The filing is listed beside the story “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns..”

Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).

Who gains and who loses around Ally Financial (ALLY)

Companies mentioned with this story

ALLY Ally Financial
In “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.,” Ally Financial (ALLY) is linked, with no stored direction, medium confidence. Reason on file: GA selected ALLY as a RELATED security because its canonical security name directly matches this event's themes: financial. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
BAC Bank Of America
In “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.,” Bank Of America (BAC) is linked, with no stored direction, medium confidence. Reason on file: GA selected BAC as a RELATED security because its canonical security name directly matches this event's themes: bank. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
BMO Bank Of Montreal /Can/
For “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.,” Bank Of Montreal /Can/ (BMO) is linked, with no stored direction, medium confidence. Reason on file: GA selected BMO as a RELATED security because its canonical security name directly matches this event's themes: bank. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
CM Canadian Imperial Bank Of Commerce /Can/
For “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.,” Canadian Imperial Bank Of Commerce /Can/ (CM) is linked, with no stored direction, medium confidence. Reason on file: GA selected CM as a RELATED security because its canonical security name directly matches this event's themes: bank. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
CRBG Corebridge Financial
Corebridge Financial (CRBG) is linked, with no stored direction, medium confidence in the 21 Sep 2026 story “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns..” Reason on file: GA selected CRBG as a RELATED security because its canonical security name directly matches this event's themes: financial. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
EFC Ellington Financial
For “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.,” Ellington Financial (EFC) is linked, with no stored direction, medium confidence. Reason on file: GA selected EFC as a RELATED security because its canonical security name directly matches this event's themes: financial. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

Ally Financial (ALLY)

Ally Financial (ALLY) is the company in “Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.,” the 21 Sep 2026 this story story.

Ally Financial (ALLY) is on the page because GA selected ALLY as a RELATED security because its canonical security name directly matches this event's themes: financial. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

Also listed, Bank Of America (BAC): GA selected BAC as a RELATED security because its canonical security name directly matches this event's themes: bank. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

The price range for Ally Financial (ALLY), and the dates in the story

ALLY traded between 36.18 and 40.33 across 20 sessions. The latest close on file is 37.53. BAC traded between 49.26 and 58.11 across 20 sessions. The latest close on file is 50.39. BMO traded between 159.57 and 177.46 across 20 sessions. The latest close on file is 166.07.

How strong the case is around Ally Financial (ALLY)

46 out of 100

“Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.