Financials Propel Dow Up 185

Big gains for major banks ahead of earnings reports
By Nick McMaster,  Newser Staff
Posted Jul 13, 2009 3:17 PM CDT
Financials Propel Dow Up 185
Bank of America specialist Daniel O'Donnell, center, with hand raised, directs trading on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo)

Stocks staged a broad rally today as financials soared ahead of earnings reports, the Wall Street Journal reports. Bank of America surged 9%, while Citigroup and JP Morgan Chase rose 6.9%. General Electric, which will also report its second-quarter earnings this week, rose 6.1%. The Dow closed up 185.16 at 8,331.68. The Nasdaq added 37.18 to 1,793.21, and the S&P 500 rose 21.92, settling at 901.05. (More Dow Jones stories.)

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