Dow Surges 379, Biggest Gain of Year

Citigroup leads financials after announcing profitable January and February
By Nick McMaster,  Newser Staff
Posted Mar 10, 2009 3:25 PM CDT
Andrew Mayers of LaBranche & Co. works on the floor of the New York Stock Exchange, Tuesday, March 10, 2009 in New York.   (AP Photo/Henny Ray Abrams)
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(Newser) – Stocks rallied today as financials jumped on news of Citigroup’s profitable January and February, the Financial Times reports. Investors also were cheered by talk of reform from Ben Bernanke—who said the recession could end next year if all goes well—and Barney Frank. Citi, Bank of America, and JP Morgan all jumped at least 20%. The Dow rose 379.44 points to close at 6,926, its biggest single-day gain since November. The Nasdaq gained 89.64 points to close at 1,358, and the S&P 500 rose 43.07 to 720.