Stocks inched up Tuesday thanks to a jump-start in lending through the government's
$800 billion consumer and mortgage lending plan. The Dow climbed 36.08 points to 8,479.47, the S&P 500 was up 5.58 points at 857.39, and the
Nasdaq slid 7.29 points to 1,464.73. Though tech stocks were lagging, financial stocks rode high on the government's announcement.
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Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Citigroup Inc. and many other banks were up on news of raising capital through the Federal Deposit Insurance Corp.'s Temporary Liquidity Guarantee Program. Goldman Sachs rose on the announcement that it was the first bank to raise capital without a government bailout through the program by selling $5 billion in notes maturing in June 2012,
according to CNN. Meanwhile National City Corp. announced in an SEC filing that shareholders
are eligible to vote at 10 a.m. on Dec. 23 on the merger of the company with PNC Financial Services, sending shares of both companies up.
- Maria Woehr
Troubled Wall Street
Prices at close |
| Name |
Price at
open |
Price
at close |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
29.63 |
29.77 |
2.19 |
111.11B |
| Merrill Lynch & Co. |
12 |
11.36 |
-0.17 |
18.17B |
| Goldman Sachs Group Inc. |
71.41 |
71.78 |
4.36 |
28.38B |
| Morgan Stanley |
14.2 |
14.27 |
0.89 |
15.15B |
| Citigroup Inc. |
6.39 |
6.08 |
0.13 |
33.13B |
| Fannie Mae |
0.5401 |
0.47 |
0.13 |
505.82M |
| Freddie Mac |
0.65 |
0.53 |
0.08 |
342.99M |
| Bank of America Corp. |
15.23 |
14.80 |
0.21 |
74.26B |
| Wachovia Corp. |
5.25 |
5.23 |
-0.01 |
11.30B |
| Wells Fargo & Co. |
26.98 |
26.95 |
0.93 |
89.61B |
| American International Group Inc. |
1.77 |
1.77 |
0.00 |
4.76B |
| Sovereign Bancorp Inc. |
2.27 |
2.31 |
0.10 |
1.53B |
| National City Corp. |
1.88 |
1.99 |
0.09 |
4.05B |
| Fifth Third Bancorp |
9.04 |
9.13 |
0.45 |
5.27B |
| Capital One Financial Corp. |
33.57 |
33.70 |
1.95 |
13.19B |
| SunTrust Banks Inc. |
28.78 |
29.63 |
1.32 |
10.49B |
| U.S. Bancorp |
25.79 |
25.23 |
0.13 |
44.268B |
| Regions Financial Corp. |
9.53 |
9.41 |
0.03 |
6.51B |
| KeyCorp |
8.61 |
8.68 |
0.57 |
4.29B |
| PNC Financial Services |
50.48 |
52.17 |
3.62 |
18.16B |
| BB&T Corp. |
28.48 |
28.33 |
0.92 |
15.65B |
| Bank of New York Mellon Corp. |
32.38 |
29.75 |
-2.50 |
34.14B |
| State Street Corp. |
38.29 |
37.75 |
1.66 |
16.30B |
Source: The Deal |
