Optimism over banks' earnings reports helps stocks rebound

04/14/2009 | Wall Street Journal, The

The Dow Jones Industrial Average rebounded from a 100-point decline to close down about 25 points Monday as investors hoped banks' earnings reports would feature pleasant surprises. Peter McCorry, a trader at Keefe, Bruyette & Woods, said hopes were growing that Goldman Sachs would follow Wells Fargo in announcing surprisingly strong results. After the market closed, Goldman did not disappoint, reporting a $1.8 billion first-quarter profit.

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