Shares of Goldman Sachs Group Inc. were rallying on Friday, contributing to the Dow Jones Industrial Average after The Wall Street Journal reported that the bank’s CEO Lloyd Blankfein step down as CEO as early as this year. The Dow was up about 314 points, or 1.3%, at 25,208, with Goldman’s rally contributing more than 30 points to the price-weighted Dow’s gains. Goldman’s shares by virtue of its $200-price tag, presently at $270, is one of the biggest drivers of the blue-chip benchmark. Even before the report, Goldman’s shares were higher, bouncing after the Friday jobs report suggested that the U.S. economy remains healthy but not enough to force the Federal Reserve to act aggressively to tamp down rising prices or inflation. Meanwhile, the S&P 500 index was up 1.2%, led by the finacials sector and the Nasdaq composite Index was trading at a new intraday record, washing away all of its decline from its recent 10% pullback, as the broader stock market was recovering.
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