Stocks were up as congressional hearings on the
$700 billion bank bailout are underway. The Dow increased by 190.75 points to 8,464.33, the
S&P 500 was up 13.92 points at 864.67, and the Nasdaq gained 12.56 points hitting 1,494.61.
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Financial stocks were a mixed bag. Citigroup Inc. stocks were down after it announced
52,000 job cuts Monday; investors are concerned that the
job cuts won't fix the ailing bank, according to Reuters.
Goldman Sachs Group Inc.'s stocks were up on Monday's news that executives would forgo bonuses.
In other banking news, Merrill Lynch & Co. and Bank of America Corp. appointed Jim Forbes as the new head of investment banking for Asia. Mark Aedy from Merrill will oversee the
European division, and Brian Brille from Bank of America will oversee the
Americas unit, according to Dow Jones. - Maria Woehr
Troubled Wall Street
Prices at 12:00pm EST |
| Name |
Price at
open |
Price
at 12:00 pm |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
32.76 |
32.71 |
-0.06 |
122.08B |
| Merrill Lynch & Co. |
11.97 |
11.49 |
-0.29 |
18.38B |
| Goldman Sachs Group Inc. |
62.73 |
63.99 |
1.50 |
25.30B |
| Morgan Stanley |
11.29 |
11.75 |
0.53 |
12.47B |
| Citigroup Inc. |
8.96 |
8.35 |
-0.54 |
45.50B |
| Fannie Mae |
0.49 |
0.52 |
0.07 |
559.63M |
| Freddie Mac |
0.55 |
0.66 |
0.13 |
427.12M |
| Bank of America Corp. |
15.17 |
15.29 |
0.26 |
76.71B |
| Wachovia Corp. |
5.35 |
5.31 |
0.04 |
11.47B |
| Wells Fargo & Co. |
27.97 |
27.70 |
-0.13 |
92.10B |
| American International Group Inc. |
1.94 |
1.95 |
0.04 |
5.24B |
| Sovereign Bancorp Inc. |
2.25 |
2.23 |
0.00 |
1.48B |
| National City Corp. |
2.21 |
2.14 |
-0.06 |
4.35B |
| Fifth Third Bancorp |
9.11 |
9.25 |
0.11 |
5.34B |
| Capital One Financial Corp. |
30.07 |
29.48 |
-0.39 |
11.54B |
| SunTrust Banks Inc. |
31.12 |
31.73 |
0.17 |
11.23B |
| U.S. Bancorp |
25.9 |
25.61 |
-0.19 |
44.93B |
| Regions Financial Corp. |
9.16 |
9.51 |
0.45 |
6.57B |
| KeyCorp |
9.1 |
9.63 |
0.28 |
4.76B |
| PNC Financial Services |
59.08 |
57.35 |
-1.84 |
19.96B |
| BB&T Corp. |
26.84 |
27.13 |
0.53 |
14.98B |
| Bank of New York Mellon Corp. |
27.32 |
28.20 |
0.85 |
32.36B |
| State Street Corp. |
36.56 |
36.24 |
-0.68 |
15.65B |
Source: The Deal |
