New Delhi, April 13 -- Goldman Sachs might have provided an early preview of market reaction to the first quarter earnings season, which in turn could be a warning to investors looking for outsize profit growth to offset the renewed risks tied to the U.S. war with Iran.

The Wall Street titan on Monday posted a massive surge in first quarter profits, thanks in part to record stock trading revenue and a near doubling in investment banking fees, and solid gains from its asset management division.

But its bottom line growth rate of 19%, in terms of overall profits, dwarfed the 6.5% rate at which Goldman topped Wall Street's headline earnings estimate, suggesting investors had already priced a large amount of the bank's performance into its ...