Stocks rise as Goldman Sachs fears ease
NEW YORK — Investors snapped up financial stocks yesterday after concerns eased about the government's case against Goldman Sachs. The Dow Jones industrial average ended with a gain of 73 points after sliding for much of the day. The advance followed a drop of 126 points Friday after the Securities and Exchange Commission filed civil fraud charges against Goldman Sachs related to mortgage investments.
Analysts said reports that the SEC voted 3-2 along party lines to press its case against Goldman Sachs eased some of investors' worries. Investors seemed placated by the fact the vote wasn't unanimous. A rebound in Goldman shares helped lift financial shares.