Wednesday, July 23, 2014
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Stocks snap higher in midday 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 11:51 a.m.

Stocks are moving sharply higher in midday trading as the market shakes off its worst weekly performance in three months.

Citigroup rose 4 percent after the bank turned in better results than Wall Street expected. The bank also said it had reached a settlement in an investigation into its mortgage securities business.

The Dow Jones industrial average rose 132 points, or 0.8 percent, to 17,076 in midday trading Monday.

The Standard & Poor’s 500 index rose 11 points, or 0.6 percent, to 1,979. The Nasdaq composite rose 33 points, or 0.8 percent, to 4,448.

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 rose to 2.54 percent.




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Updated 1 hour ago
 The Arizona state prison where the nearly two hour execution of Joseph Rudolph Wood took place on Wednesday, July 23, 2014, is photographed in Florence, Ariz.  Wood was convicted in the 1989 shooting deaths of Debbie Dietz, 29, and Gene Dietz, 55, at an auto repair shop in Tucson. (AP Photo)

Updated 1 hour ago

Updated 1 hour ago
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