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Bank Stocks Rally After Financial Regulation Deal

Monday, 28 Jun 2010 10:15 AM

 

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Bank stocks rallied after lawmakers agreed on a financial regulation bill. The bill was milder than investors feared, so they were reassured that financial companies' profits won't be devastated.

Although there are limits on derivatives, the investments blamed in part for the 2008 financial crisis, banks will still be able to profit from them.

A disappointing gross domestic product held back the overall market Friday. The Dow Jones industrial average fell almost 9 points to 10,143.81.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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