Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 83.43

-1.9%

3:59 PM EST

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From: Road Walker	3/10/2009 9:48:45 AM
	1 Recommendation Read Replies (1) of 1428

Stocks open higher on Citi news By SARA LEPRO, AP Business Writer Sara Lepro, Ap Business Writer 5 mins ago NEW YORK – Stocks are rising after troubled Citigroup said it operated at a profit during the first two months of the year. Citi Chief Executive Vikram Pandit says the bank had an operating profit of $8.3 billion before taxes and special items through February. Word of the bank's performance is breaking, at least for the moment, a torrent of bad news from the banking industry that has pounded financial stocks and in turn, the overall market. Meanwhile, Federal Reserve Chairman Ben Bernanke is calling for a revamp of the country's financial regulatory system. In the first few minutes of trading, the Dow Jones industrial average is up 123 at 6,670. The Standard & Poor's 500 index is up 15 at 692, while the Nasdaq composite index is up 26 at 1,295.

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