For the first time since the election, stocks rose. The Dow climbed 58.86 points to
8,754.65, the
S&P 500
increased 3.51 to 908.39, and the
Nasdaq rose 9.75 points to 1,618.45. Stocks rose even though a report came out that U.S. employers cut
240,000 jobs in October. Banks' stocks were mixed, but were mostly in the green Friday morning.
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Those ailing included Goldman, Sachs & Co. J.P. Morgan Chase & Co. analyst Kenneth Worthington said the investment bank's fourth-quarter results might be hurt by its private equity portfolio and also said Morgan Stanley could also be hurting from its private equity business, but does not have the same exposure, according to
AP News. Meanwhile, National City Corp.
revised its third-quarter net loss to $2.1 billion, including a $1.34 billion write-off tied to acquisition by PNC Financial Services Group Inc.
Wells Fargo & Co. was also down as it raises $11 billion in a public stock sale to to finance it acquisition of Wachovia Corp.
- Maria Woehr
Troubled Wall Street
Prices at 9:30am EST |
| Name |
Price at
open |
Price
at 9:30am |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
38.23 |
37.98 |
-0.28 |
141.54B |
| Merrill Lynch & Co. |
16.84 |
16.61 |
0.38 |
26.57B |
| Goldman Sachs Group Inc. |
81.45 |
79.57 |
-1.15 |
31.46B |
| Morgan Stanley |
15.6 |
15.63 |
0.24 |
16.59B |
| Citigroup Inc. |
11.87 |
11.84 |
0.32 |
64.52B |
| Fannie Mae |
0.76 |
0.75 |
0.04 |
802.36M |
| Freddie Mac |
0.87 |
0.88 |
0.03 |
569.37M |
| Bank of America Corp. |
20.44 |
20.39 |
0.27 |
102.29B |
| Wachovia Corp. |
5.28 |
5.32 |
-0.06 |
11.49B |
| Wells Fargo & Co. |
27.4 |
27.71 |
-1.06 |
92.14B |
| American International Group Inc. |
2.12 |
2.20 |
0.33 |
5.91B |
| Sovereign Bancorp Inc. |
2.78 |
2.78 |
0.03 |
1.84B |
| National City Corp. |
2.53 |
2.55 |
0.06 |
5.19B |
| Fifth Third Bancorp |
10.33 |
10.24 |
0.13 |
5.91B |
| Capital One Financial Corp. |
35.34 |
34.82 |
0.02 |
13.54B |
| SunTrust Banks Inc. |
37.45 |
36.99 |
0.01 |
13.09B |
| U.S. Bancorp |
28.3 |
28.03 |
0.00 |
49.16B |
| Regions Financial Corp. |
10.85 |
10.75 |
0.12 |
7.43B |
| KeyCorp |
11.95 |
11.53 |
-0.07 |
5.70B |
| PNC Financial Services |
68.42 |
67.77 |
0.03 |
23.58B |
| BB&T Corp. |
31.73 |
31.27 |
-0.13 |
17.18B |
| Bank of New York Mellon Corp. |
30.2 |
30.10 |
0.19 |
34.54B |
| State Street Corp. |
40.67 |
41.10 |
0.84 |
17.75B |
Source: The Deal |
