Bank Stocks Send Dow Up 81 Points

By: Associated Press
By: Associated Press

New York, NY (AP) - Upbeat news from banks and homebuilders are
pushing stocks higher.
Citigroup's better-than-expected results Monday are putting an
end to a slide in bank stocks. Wells Fargo and Bank of America are
up more than 3 percent on the day. Homebuilders, meanwhile, are
becoming more confident that they can sell new homes.
Apple and IBM announce third quarter earnings after the closing
bell.
According to preliminary calculations, the Dow Jones industrial
average is up 81, or 0.7 percent, to close at 11,114.
The S&P 500 is up 8, or 0.7 percent, at 1,185, while the Nasdaq
composite is up 12, or 0.5 percent, at 2,481.
Two stocks rose for every one that fell on the New York Stock
Exchange, where floor trading came to 995 million shares.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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