Financial Sector Rallying Today, GS Misses The Train

Financial stocks surged in the early trade today, as the Dow Jones Industrial Average climbed more than 200 points. The market remained positive due to the news of increased Chinese exports and a recovering euro. However, Goldman Sachs Group Inc (NYSE: GS) failed to gain from today’s financial-sector bounce.

The Financial Select Sector SPDR Fund (XLF) jumped 1.43% by 12:06 pm, after the fund lost 1.1% in the late trading hours yesterday.

At the S&P 500, all financial-services stocks were in the positive territory, except Goldman, which was down 2.86% to $132.91, by 12:09 pm. According to a report of Financial Times, the Securities and Exchange Commission (SEC) is investigating Hudson Mezzanine Financing, another Goldman collateralized debt obligation (CDO). The CDO wasn’t the part of charges pressed by the SEC earlier in April. Shares of Goldman are off nearly 19% year to date.

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