Goldman Sachs Group Inc. (GS) is on fire.
Shares of the big bank gained 2.44% to $256.24 midday Tuesday, Dec. 12, leading a broader financial sector rally ahead of the Federal Reserve's last meeting of 2017. Tuesday's move was Goldman's biggest daily gain since April and sent it to an intraday high of $257.07, a new 52-week record.
Goldman nearly tripled the gains of the banking group Tuesday. The Financial Select Sector SPDR ETF (XLF) gained 0.89% Tuesday. The Russell 3000 Financial Services Index gained 0.29% by midday.
Bank stocks' Tuesday jump comes one day before the Fed is set to close out its last Open Market Committee meeting this year. The market has priced in a near-unanimous chance that the Fed will raise interest rates at the meeting, which would be the third such hike this year.
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