Thursday, January 22, 2009

US mkts recover sharply; financials rebound Dow closes 279 points up while Asian markets trading firm; Hang Seng up 1.3%

Wall Street rebounds after banks surged and Congress stopped grilling Tim Geithner and the hearing for his nomination as Treasury Secretary ended. The Senate Finance Committee plans to vote on today on the nomination of Geithner to serve as Treasury Secretary.

Citi and Bank of America were the top two gainers on the Dow, with each gaining 31%, completely erasing the prior session's losses.

The Dow Jones industrial average gained 279.01 points, or 3.51%, to 8,228.10. The S&P 500 index rose 35.02 points, or 4.35%, to 840.24, and the Nasdaq composite index rose 66.21 points, or 4.60%, to 1,507.07.


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