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
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)
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(Newser) – 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.