Posted by Admin - Apr 19, 2010
The stock market has been a bit of a mixed bag recently. Monday continued to follow that trend, with financial stock rebounding while others fell. Investors were able to set aside some of their concerns about Goldman Sach’s problems with investigations for the SEC long enough to send financial stocks surging.
The Dow Jones industrial average rose 73 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.
The Standard & Poor’s index rose, while the Nasdaq composite index fell.
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 stocks.
The future of the investigation into Goldman Sachs could have major repercussions for the rest of the industry as a whole. We’ll have to wait and see.