US Stock Rally Lifts Dow to First Close Above 26,000 Points
Goldman said it lost $1.93 billion in the fourth quarter as the investment bank
had to record more than $4 billion in charges related to the new tax law.
Industrial stocks rose after the Federal Reserve said U. S. industrial production increased 0.9 percent in December.
A broad rally on Wall Street propelled the Dow Jones industrial average to close above 26,000 points for the first time Wednesday.
The S&P 500 index rose 26.14 points, or 0.9 percent, to 2,802.56.
Bank of America’s fourth-quarter profits fell by nearly half from a year ago, as the bank had to book $2.9 billion in charges related to the tax law.