U.S. stock indexes rose on Tuesday as strong results from Goldman Sachs calmed worries of a substantial hit to profit from rising interest rates, but a rise in government bond yields pushed megacap growth stocks lower.
Goldman Sachs Group Inc gained 2.5% after reporting a smaller-than-expected drop in quarterly profit due to a slowdown in investment banking, which was cushioned by a boost in net interest income.
The investment bank, which is reorganizing its business into three units, wrapped up earnings from big U.S. banks on a largely positive note, even though several lenders raised the loan loss provisions in
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