NEW YORK, July 15 Reuters Goldman Sachs39; profit more than doubled in the second quarter and beat analysts39; estimates on strong debt underwriting and fixedincome trading, but slipped from a bumper first quarter when earnings were the highest since 2021.

The resilience of the U.S. economy has given corporate executives the confidence to pursue acquisitions, debt sales and stock offerings.

We remain very wellpositioned to benefit from a continued resurgence in activity, said Goldman CEO David Solomon, who began a conference call with analysts by condemning the assassination attempt on former U.S. President Donald Trump.

While activity in capital markets and mergers is improving, it remains below historical averages, Solomon said.

Shares climbed as much as 2.3 to a record high, before paring gains to rise 0.3 in late morning trading.

The modest rise is partly because the bank39;s investment banking gains fell short of those at peers including JPMorgan Chase and Citigroup, said Stephen Biggar, an analyst at Argus Research.

Earnings rose to 3.04 billion, or 8.62 per share, for the three months ended June 30, about 3 higher than analysts39; average expectation of 8.34 per share, according to LSEG.

Goldman is poised for higher earnings from investment banking fees given the significant increase in its backlog, Kenneth Leon, research director at CFRA Research and who has a buy rating on the stock, said in a note.

The results exceeded estimates by narrower margins…