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Why Goldman Sachs Stock Gained 19% Last Month

TheMotleyFool

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Why Goldman Sachs Stock Gained 19% Last MonthPhoto, wide shot, wide-angle lens, Private equity firm, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/11edc0a6-edfc-46d1-baee-abd4f510abd1.png

Shares of Goldman Sachs (NYSE: GS) jumped last month as the investment bank got a boost from the broader rebound in the market, which was propelled by signs that the pandemic was peaking in the U.S. and news that the Federal Reserve was taking aggressive action to support the economy. The banking stock finished April 19% higher, according to data from S&P Global Market Intelligence.

As you can see from the chart below, the bulk of the gains came in the second week of April as investors reacted to positive coronavirus data and as the Federal Reserve announced another economic support program.