Dow Up 494 on Geithner Pick

Banks rally after comments by Treasury secretary, Bank CEOs

(NEWSER) - Stocks gained today on upbeat comments from Timothy Geithner and the CEOs of Citigroup and US Bancorp, the Wall Street Journal reports. Banks rallied after the Treasury secretary said that the “vast majority” have sufficient capital. The Dow closed up 127.83 at 7,969.56. The Nasdaq rose 35.64, settling at 1,643.85, and the S&P 500 added 17.69 to close at 850.08. More»

Geithner's plan wins positive reviews from Street

(NEWSER) - Stocks locked in big gains today with the rally sparked by the rollout of the Treasury’s financial rescue plan, the Wall Street Journal reports. Financials led advances, with Citigroup and Bank of America up 24% and 19%, respectively. The Dow jumped 497.48 to 7,775.86. The Nasdaq rose 98.50 to 1,555.77, and the S&P 500 gained 54.38, settling at 822.92. More»

(NEWSER) - Stocks sprinted out of the gates today, the Wall Street Journal reports, spurred by the Treasury’s long-awaited toxic asset plan. The Dow was up 316 just after noon, while the Nasdaq and S&P 500 added 4.1% and 4.5%, respectively. Banking stocks were the biggest winners, with Citigroup up 24%, and Bank of America up 15%. The gains follow similar moves overseas, with several Asian indexes surged 3% or more. More»

Tech leads declines, Dow falls from triple-digit gain

(NEWSER) - Stocks swung back to losses as optimism from last week’s rally faded today, the Wall Street Journal reports. Investors treated last week’s announcements that many troubled financial institutions ran operating profits in the first two months of 2009—ignoring “toxic securities” on their balance sheets—with skepticism. The Dow closed down 7.01 at 7,216.97. The Nasdaq fell 27.48 to 1,404.02, and the S&P 500 lost 2.66, closing at 753.89. More»

Dow blows by Tuesday low

(NEWSER) - Stocks fell today, with the Dow passing the bear-market low it set Tuesday, and two giants of US banking and manufacturing trading at less than $2, MarketWatch reports. Mounting problems at Citigroup and General Motors drove their shares to $1.02, and $1.95, respectively. The Dow dropped 281.40 to close at 6,594.44. The Nasdaq lost 54.15, closing at 1,299.59, while the S&P 500 lost 30.32 to settle at 682.55. More»