dow up +146.01 (+1.79%) bit of a joke, page-6

Stocks rise on banks
Wall Street advances as investors scoop up a variety of shares ahead of the first big wave of quarterly results
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See all CNNMoney.com RSS FEEDS (close) By Alexandra Twin, CNNMoney.com senior writer
Last Updated: July 13, 2009: 2:42 PM ET

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NEW YORK (CNNMoney.com) -- Stocks rallied Monday afternoon, with financial and consumer shares leading the advance as investors welcomed an analysts' improved outlook on Goldman Sachs one day ahead of its quarterly report.

The Dow Jones industrial average (INDU) jumped 142 points, or 1.7%, with 90 minutes left in the session. The S&P 500 (SPX) index added 16 points, or 1.8%. The Nasdaq (COMP) rose 27 points, or 1.5%.

Stocks gained through the morning, after a shaky start. But the advance got an extra boost after influential banking analyst Meredith Whitney said in a televised interview that she was lifting her view on Goldman Sachs (GS, Fortune 500) and that Bank of America (BAC, Fortune 500) could provide value for investors.

Both companies are due to report results this week, with Goldman due Tuesday and BofA due Friday. Other financial companies set to report include JPMorgan Chase (JPM, Fortune 500) on Thursday and Citigroup (C, Fortune 500) on Friday.

"I think a lot of what we're seeing today is around banks, following the comments on Goldman," said Tyler Vernon, chief investment officer at Biltmore Capital.