The Dow Jones Industrial Average on Friday was garnering a early morning lift from shares of Goldman Sachs, helping the benchmark reverse opening losses. Goldman Sachs Group Inc.’s stock was contributing a roughly 20-point rise to the price-weighted Dow. Goldman’s shares were up $3.07, or 1.4%, leading blue-chip advancers. Goldman is attempting to pare what has been its worst weekly loss since the week ended July 21, according to FactSet data, as financial stocks have been battered by lowered expectations for interest-rate hikes and shrinking bond yields, with the 10-year Treasury note around 2.06%, holding around its lowest levels since November. Those factors can undercut a bank’s business model. A popular way to wager on the financial sector, the Financial Select Sector SPDR ETF , was facing its worst weekly decline, down 2.7%, since the period ended March 24. Goldman is one of the most influential components in the price-weighted Dow by dint of its $219 share price. In other benchmarks, the S&P 500 index was off 0.1% at 2,463, while the Nasdaq Composite Index was down 0.2% at 6,382.
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