NEW YORK: US stocks posted a broad rally yesterday after a key analyst upgrade of Goldman Sachs a day ahead of its quarterly earnings report ignited the financial sector.
The Dow Jones Industrial Average, which had closed lower Friday for four weeks running, surged 185.16 points (2.27 per cent) to finish at 8,331.68.
The tech-heavy Nasdaq added 37.18 points (2.12 per cent) to 1,793.21 and the Standard & Poor’s 500 index, a barometer of the broader market, advanced 21.92 points (2.49 per cent) to 901.05.
Analysts said bank stocks were underpinned after Goldman Sachs received an upgrade from influential Wall Street financial analyst Meridith Whitney.
Goldman Sachs, which reports second-quarter earnings Tuesday, leapt 5.34 per cent to US$149.44. - AFP
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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