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Journalism of Courage
Upbeat news from banks and home builders are pushing stocks higher.
Pandit-led Citigroup’s better-than-expected results Monday are putting an end to a slide in bank stocks. Wells Fargo and Bank of America are up more than 3 percent on the day. Homebuilders,meanwhile,are becoming more confident that they can sell new homes.
Apple and IBM announce third quarter earnings after the closing bell.
According to preliminary calculations,the Dow Jones industrial average is up 81,or 0.7 percent,to close at 11,114.
The S&P 500 is up 8,or 0.7 percent,at 1,185,while the Nasdaq composite is up 12,or 0.5 percent,at 2,481.
Two stocks rose for every one that fell on the New York Stock Exchange,where floor trading came to 995 million shares.
