Financials Up on Hopes for Market Stability -- Financials Roundup

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Shares of banks and other financial institutions rose sharply amid hopes that the bear market in global equities may be close to an end.

The broad S&P 500 is testing “extremely important levels” where previous rallies in the year-long bear market have faltered, said Quincy Krosby, chief global strategist at brokerage LPL Financial.

Goldman Sachs Group fell after the Federal Reserve said it was probing the Wall Street bank’s consumer operations, checking on the safeguards put in place after the banker to institutions and wealthy individuals rapidly rolled out services for mass markets.

Write to Rob Curran at rob.curran@dowjones.com