Stocks inch higher as banks enjoy another good day
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Stocks managed to hold on to yesterday's gains in an up-and-down trading session, but just barely. The Dow Jones Industrial Average closed slightly higher, up a hair under 4 points, or 0.06 percent, at 6,930. Banks had another good day after JP Morgan Chase (JPM
) followed the example set by Citigroup (C
) and announced it was profitable over the first two months of the year. Both banks' stock rose, with JP Morgan adding 4.6 percent and Citi climbing 6.2 percent, the best of any Dow member. Bank of America (BAC
) gained as well.
), which said yesterday that it foresees a drop in aluminum demand, was the Dow's biggest loser, falling 5.9 percent. General Electric (GE
), one of yesterday's big winners, also fell. Its shares dropped 4.3 percent.