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Thursday, December 29, 2011

Citigroup (C) (BAC) (JPM) (WFC) Jumping on Economic News

Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan (NYSE:JPM), Wells Fargo (WFC) were all trading up today in response to the appearance of strength in Italian bonds, as well as jobless claims, while rising, still managed to remain below the 400,000 mark for the week.

It shows the market is grasping at anything that can be construed as positive in order to give it some movement into positive territory. It won't last.

Bank of America was trading at $5.39, gaining $0.11, or 2.08 percent, as of 2:27 PM EST. Citigroup was trading at $26.66, rising $0.53, or 2.01 percent. JPMorgan was trading at $33.27, up $0.62, or 1.90 percent. Wells Fargo was trading at $27.67, increasing $0.56, or 2.07 percent.

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