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Goldman profit beat, easing rate-hike bets drive Wall Street higher

Goldman Sachs profit beats as fixed-income trading shines; Boeing rises as Delta to buy 100 737 MAX 10 planes

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City (Photo: Reuters)

Reuters
US stock indexes rose on Monday after Goldman Sachs beat profit expectations, extending last week's positive momentum amid easing bets of a super-sized interest-rate hike by the Federal Reserve.

The Dow rose over 200 points in early trading, picking up from Friday when U.S. economic data showed stronger-than-expected retail sales, an uptick in consumer sentiment and lower inflation expectations.

Goldman Sachs Group Inc gained 4.2% as it reported a smaller-than-expected 48% slump in second-quarter profit, helped by strength in its fixed-income trading. The investment banking giant's results follow upbeat quarterly results from Citigroup Inc on Friday.

The S&P 500 banks index added 0.9%

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)