Markets resume rally as bank stocks take the lead
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Yesterday, stocks galloped ahead but tripped before the closing bell. Today, the markets managed to hold onto their gains
and the Dow Jones Industrial Average rose 179 points, or 2.5 percent, to close at 7,396. Twenty-seven of the Dow's 30 stocks climbed, including by Citigroup (C
), which advanced 7.7 percent and closed higher for the seventh consecutive day. JP Morgan Chase (JPM
) also gained.
) was the Dow's biggest loser, falling 8.7 percent, as the recession weakened industrial production and demand for aluminum. General Motors (GM
) and Johnson & Johnson (JNJ
) were the only other stocks that didn't advance.