We’re looking forward to the Goldman Sachs (GS) conference call (7:00 AM ET) to learn more about how good the quarter really was, but it looks like the market is giving it thumbs up — this even though the stock ticked off a couple dollars last night.
Financials in the US are already indicated to start rallying, with Citigroup (C) above $4 pre-market, Bank of America up about 3% and GE a few pennies higher.
Stocks had a good session overseas, with the Hang Seng gaining over 4% and Europe rallying:
AP: The FTSE 100 index of leading British shares was up 49.21 points, or 1.2 per cent, at 4,032.92 while Germany’s DAX rose 75.65 points, or 1.7 per cent, to 4,566.77. The CAC-40 in France was 48.99 points, or 1.7 per cent, higher at 3,023.17.
In London, Barclays PLC was up 12 per cent, while Lloyds Banking Group PLC, itself majority-owned by the British government, rose 9 per cent. In Frankfurt, Commerzbank AG rose 14 per cent and Deutsche Bank AG, Germany’s biggest bank, was up 6 per cent. Meanwhile in Paris, both BNP Paribas SA and Societe Generale SA rose 9 per cent.