U.S. stocks continued to rise Monday morning, the major indexes another two-year high. Investors expect the U.S. economy in 2011 will continue to recover, to promote the U.S. stock market will be stronger in the first trading day of the New Year.
EST at 10:37 on January 3rd, the Dow Jones industrial average rose 106.14 points to 11,683.65 points, or 0.92%; the Nasdaq composite index rose 44.33 points to 2,697.20 points, or 1.67%; the S & P 500 Index rose 14.47 points to 1,272.11 points, or 1.15%.
Dow component Bank of America (BAC) rose 4.6% after the bank said provision for the fourth quarter of 3.0 billion, to cover its underwriting subsidiary Countrywide Financial sector for sale to Freddie Mac and Fannie Mae mortgage potential loss of securities, the bank agreed to repurchase these loans to resolve related proceedings. Freddie Mac (FMCC) and Fannie Mae (FNMA) rose by 8.1% and 10%.
Boeing (BA) rose 1.5% after JP Morgan Chase (JPM) investment grade to its stock from "neutral" from "overweight", citing "expects the company's core civil aviation sector outlook will continue to improve. "