Stocks up strong
Stocks are flying high at midday today on news that Citigroup (NYSE:C) reported it was profitable for the first two months of 2009.
At 1:27 pm ET, the Russell 2000 (NYSE:IWM) is up 19.94, or 5.81%, to 363.20. The Dow is up 4.27% to 6,826.77, and the S&P 500 is up 5.06% to 710.76.
Also helping stocks make large moves today was news that Congressman Barney Frank, chairman of the House financial services committee, said he expects the restoration of a rule that makes it harder to bet that a share's price will fall. Investors were encouraged by Frank's comments.
Financial stocks are in rally mode today following statements made by U.S. Treasury Secretary Timothy Geithner on Monday that the United States has taken more economic action in recent weeks than most countries have in years to ease strife.
Small caps seeing double-digit gains today include Gaylord Entertainment Company (NYSE:GET), up 33% after a proxy deal, and AM Castle (NYSE:CAS), which topped Q4 views and declared a $0.06 per share dividend, sending shares 42% higher.
Stocks up strong
Once again, early strength for stocks yesterday quickly turned to weakness. There is a battle going on between the bears and the bulls. Despite all time lows for consumer sentiment, there is a growing number of analysts and market strategists who believe a rally is at hand.
We’ve been seeing signs of a rally for a couple weeks now. That’s why . . .
At 1:27 pm ET, the Russell 2000 (NYSE:IWM) is up 19.94, or 5.81%, to 363.20. The Dow is up 4.27% to 6,826.77, and the S&P 500 is up 5.06% to 710.76.
Also helping stocks make large moves today was news that Congressman Barney Frank, chairman of the House financial services committee, said he expects the restoration of a rule that makes it harder to bet that a share's price will fall. Investors were encouraged by Frank's comments.
Financial stocks are in rally mode today following statements made by U.S. Treasury Secretary Timothy Geithner on Monday that the United States has taken more economic action in recent weeks than most countries have in years to ease strife.
Small caps seeing double-digit gains today include Gaylord Entertainment Company (NYSE:GET), up 33% after a proxy deal, and AM Castle (NYSE:CAS), which topped Q4 views and declared a $0.06 per share dividend, sending shares 42% higher.
Stocks up strong
Once again, early strength for stocks yesterday quickly turned to weakness. There is a battle going on between the bears and the bulls. Despite all time lows for consumer sentiment, there is a growing number of analysts and market strategists who believe a rally is at hand.
We’ve been seeing signs of a rally for a couple weeks now. That’s why . . .
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