Friday, August 29, 2014
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Stocks snap higher in early trading; Citigroup up

US stocks march higher, shaking off worst week in three months; Citigroup gains on settlement

Posted on July 14, 2014 at 12:00 a.m. | Updated on July 14, 2014 at 10:01 a.m.

Stocks are up sharply in early trading as the market shakes off its worst weekly performance in three months.

Citigroup rose after the bank turned in better results than Wall Street expected and said it had reached a settlement in an investigation into its mortgage business.

The Dow Jones industrial average rose 126 points, or 0.7 percent, to 17,071 in the first few minutes of trading Monday.

The Standard & Poor’s 500 index rose 10 points, or 0.6 percent, to 1,978. The Nasdaq composite rose 25 points, or 0.6 percent, to 4,440.

Mylan rose 3 percent after the company said it will buy Abbott Laboratories’ generic-drug business

Bond prices fell. The yield on the 10-year Treasury note edged up to 2.53 percent.




 People walk a street at Shibuya shopping district in Tokyo, Friday, Aug. 29, 2014. Japan's vital signs remained weak in July as wages fell further and household spending dropped, signaling continued weakness in the world's third-largest economy. Data released Friday showed the inflation rate was unchanged from the previous month. The core price consumer index that excludes volatile fresh food prices rose 3.3 percent in July, the same as a month earlier. (AP Photo/Koji Sasahara)

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