Bank Stocks Lead Rebound

Posted by admin on Jan 28th, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Bank Stocks Lead Rebound Financial stocks led a late rebound in the broader market, helped by the Federal Reserve's decision to leave interest rates near zero and a turnaround in American International Group following a House hearing looking back at the insurer's bailout. The Dow Jones Industrial Average was in the red for most of the session but ended with a 46-point gain, up 0.5%, at 10240.47. Its strongest component was Boeing, up 7.3% after the aircraft and defense company swung to a fourth-quarter profit that was bigger than analysts had projected. But Caterpillar slid 4.3%, hurt by the equipment maker's report of a sharp decline in fourth-quarter earnings and forecast 2010 earnings below analysts' estimates. Markets Data Center Most Actives | Gainers | Losers New Highs and Lows | Money Flows Intraday Futures | Currencies The S&P 500 was up 0.5%, led by a 2.3% jump in its financial sector, which tends to benefit from low borrowing costs. Among the big individual winners were Bank of America, up 2.[Read more...]

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