Tuesday, September 2, 2014
Loading...





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.




 Burning Man participants walk through dust at the annual Burning Man event on the Black Rock Desert of Gerlach, Nev., on Friday, Aug. 29, 2014. Organizers call Burning Man the largest outdoor arts festival in North America, with its drum circles, decorated art cars, guerrilla theatrics and colorful theme camps. (AP Photo/The Reno Gazette-Journal, Andy Barron)

Updated 2 hours ago
 A mother and child lie on the bed in the bomb shelter in Petrovskiy district, in Donetsk, eastern Ukraine, Monday Sept. 1, 2014. The Petrovskiy district of Donetsk is currently a frontline and one of the districts which has suffered the most from the artillery fights between Ukrainian army and Pro-Pussian rebels. (AP Photo/Mstislav Chernov)

Updated at 9:00 p.m.
 FILE - This April 19, 2012 file photo shows Carrie Underwood in Nashville, Tenn. Country star Carrie Underwood and NHL player Mike Fisher announced Monday, Sept. 1, 2014 that they are expecting their first child. (AP Photo/Mark Humphrey, File)

Updated at 6:49 p.m.
Back to top ^