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Article: Stock Market News for July 14, 2009
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- Zacks Investment Research -
- Article date:
- July 14, 2009
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Stock Market News for July 14, 2009
US stocks staged a sharp recovery yesterday, helped by rebound in financial shares, as analyst Meredith Whitney’s bullish comments on Goldman Sachs (NYSE:GS) triggered a buying spree and investors snapped up banking and industrial stocks. The Dow Jones industrial average jumped 185 points. Bank of America (NYSE:BAC), which has been hit hard by loan losses, also surged after Whitney said on CNBC the shares were the cheapest among U.S. banking stocks. The S&P 500 index added 22 points, or 2.5%. The NASDAQ rose 37 points, or 2.1%, helped by a 2.1% rally in technology stocks.
However, CIT Group Inc. (NYSE:CIT) plunged 11.8% after ...
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