Wall Street End In Green Even After Banks Report Big Losses

Wall Street was managed to somehow catch the positive territory even after the major banks report big losses. Stock Market has really seen an erratic session up yesterday after the news of Bank of America receives government support, while Citi Bank splits operations.

Dow Jones industrial average was up by 68.73, or 0.84%, to close at 8,281.22. In the afternoon session, the Dow was down nearly down by 103 points but was able to slowly recover and ended up in positive territory. Even though the stock market saw green, investors were quite concerned about the ongoing problems in the banking industry in reaction to billion dollar losses at Bank of America Corp and Citigroup Inc. Even after this bad show by the major banks, investors were also cheered by plans for both banks to re-establish themselves to profitability, and maximum of the stock investors were also willing to place bets on a range of consumer and industrial stocks.

The pain that has started way back last year in stock market can also be clearly seen in investors’ as well as trader’s mind and going forward there is no sign to easing it so easily.

For this week ended, the Dow Jones industrial average fell by 317.96 point or 3.70% to close at 8,281.22 points. The Standard & Poor's 500 index lost almost about 40.23, or 4.50%, to close at 850.12. The Nasdaq composite index slid by 42.26, or 2.70 percent, to 1,529.33.