NEW YORK (AP) — After months of angst over the government’s plans to regulate the financial industry, investors are able to relax. And they’ve showed their relief by sending bank stocks soaring.
Financial companies have outdistanced the rest of the stock market Friday after lawmakers agreed on a banking overhaul bill that is less strict than investors feared.
Bank of America Corp. rose more than 2 percent, while Goldman Sachs Group Inc. and JPMorgan Chase & Co. each rose more than 3 percent.
The market’s big indexes were narrowly mixed. The Dow Jones industrial average fell almost 9 points, or 0.1 percent, to 10,143. The Standard & Poor’s 500 index rose 3, or 0.3 percent, to 1,076. The Nasdaq composite index rose 6, or 0.3 percent, to 2,223.
Almost four stocks rose for every one that fell on the New York Stock Exchange. Volume came to a heavy 2.56 billion shares.
