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Updated from 3:06 p.m. EDT
Financial stocks helped to lift the market higher Thursday, thanks to a series of upgrades to the sector.
Goldman Sachs(GS Quote) and Morgan Stanley(MS Quote) were upgraded to outperform from market perform by Bernstein Research analyst Brad Hintz, who saw a lack of competition and fixed income trading aiding their results. He increased the price target for Goldman to $176 and Morgan to $37. Both closed the day on the upside with Goldman gaining 5.2% to end the day at $149.47 and Morgan closed up 5% to $31.20.
The NYSE Financial Sector Index climbed 2.9% to close at 4030.51 and the KBW Bank Index jumped 4.8% to 37.88. ...
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