Goldman Sachs
May 14, 2026
US Morning Update
Daily UpdateEquitiesRates Govt BondsCommoditiesConsumer DiscretionaryEnergy
Daily briefing on global market movements, highlighting the rise of retail trading in US equities (20% of volume) and a rating downgrade for Whirlpool.
Key Takeaways
- 1.Retail trading activity is high, accounting for 20% of total US equity trading volumes, though still below the 2021 peak of 24%.
- 2.Retail margin debt as a percentage of customer assets (1.8%) has reached levels similar to the 2021 highs, raising questions about potential market bubbles.
- 3.Whirlpool (WHR) has been downgraded to Neutral from Buy due to persistent macro pressures and a levered balance sheet.
Table of Contents
- Looking Ahead
- Performance of Global Indices (as of May 14, 2026)
- Rating & Conviction List Changes (as of May 14, 2026)
- Today's Events (May 14, 2026)
- US Morning Call for May 14, 2026:
- Notable Research not on the Morning Call
- Listening in: Webinars, Conferences & Podcasts
- Upcoming Conferences
- Webinar Replays
- Resource Corner
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Authors
Chris HusseySarah HerrKshitij Garg
Securities
IBKRWHRVGDTEPIRa
Themes
Retail Trading SurgePower & Resources Reliability
Regions
North AmericaEuropeAsia PacificUnited StatesJapanUnited Kingdom