"Here we have a best-in-class sort of company reporting outstanding results," said Craig Peckham, an analyst with Jefferies & Co. Goldman's actual results had little impact as investors' focus quickly turned to the rest of the financial sector and what those reports might have to say about the state of the industry. are all expected to report second-quarter results later in the week. JPMorgan Chase & Co., Bank of America Corp. The company posted earnings of $3.2 billion, while also affirming its full-year outlook and its shares rose 53 cents to $58.25. drug giant Johnson & Johnson handed in better than expected earnings. The S&P 500 index moved up 4.79 points to 905.84 as U.S. personal computer market has reached its low point but that the timing of a global turnaround in the technology industry remains anyone's guess. shares ran down $1.05 to US$11.97 as the company said the U.S. The Nasdaq composite index gained 6.52 points to 1,799.73. The Goldman Sachs report also pushed New York markets higher as the Dow Jones industrial average closed up 27.81 points to 8,359.49 after financials led a 185-point charge on Monday. The Canadian dollar rose 1.21 cents to 88.03 cents US, the currency's highest close since June 19, while the TSX Venture Exchange climbed 7.76 points to 1,055.39. The TSX financial sector rose two per cent with Royal Bank (TSX:RY) ahead $1.36 to C$47.86 and Bank of Montreal (TSX:BMO) gained $1.20 to C$48.10. Its shares drifted six cents lower to US$149.38 after jumping just over five per cent Monday.
On Tuesday morning, the company said it earned US$2.72 billion, or $4.93 per share, much higher than the $3.54 analysts had expected.
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The main S&P/TSX index closed up 94.22 points to 9,986.15 after surging 145 points on Monday following an upgrade on Goldman Sachs by influential banking analyst Meredith Whitney. TORONTO - The Toronto stock market put in a solid gain Tuesday for a second session in a row, led by the financial sector in the wake of an earnings report from American banking giant Goldman Sachs Group that was much better than expected.
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