Goldman Sachs' Q1 Earnings Fall Short of Expectations.

Goldman Sachs reported revenues below Wall Street's forecasts and booked a $470 million loss on efforts to sell loans connected with its struggling Marcus consumer banking unit. Meanwhile, Bank of America and BNY Mellon reported that deposits fell less than analysts had expected last quarter, pushing their shares up in premarket trading. China published solid economic data for the first full quarter since Beijing lifted strict Covid-19 restrictions, but the recovery was uneven and bolstered by a low base effect after last year's rolling lockdowns. Elon Musk discussed creating an alternative artificial intelligence start-up to OpenAI, which he had once backed, and said he wants a "maximum truth-seeking A.I." that tries to understand the nature of the universe.