Courtesy of Benzinga.
Goldman Sachs Group Inc (NYSE: GS) shares are trading lower by $1.90 at $197.27 in Monday's session. The issue attempted to improve on its impressive $7.15 rally and was turned back.
The catalyst for the rally was a hot jobs number that may prompt the Fed to raise in December. Historically, rising interest have tended to benefit financial stocks more than others.
Off the open, the issue found resistance above Friday's high ($199.45) and just ahead of the psychological level of $200, only reaching $199.90. The ensuing decline has taken the issue to $196.62 and it is attempting to rebound into the $197 handle.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
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