US stocks for a second day in a series after JP Morgan Chase's chief executive said his banks was profitable in Jan and Feb 2009. Note that yesterday, the CEO of Citigroup said the same thing.
But the market was restricted by a 7-percent drop in crude prices pushed energy shares down. Jamie Dimon's commented on CNBC TV, that the bank's bond departments had just its 2 busiest months forever, which reversed a broad decline.
JP Morgan shares rose 4.6 percent to $20.40, while an index of bank stocks climbed 3.1 percent.
Tuesday's huge rally and Wednesday's modest gains marked the first two-day advance for the Dow since Feb 5-6, 2009. The blue-chip average is down 1.9% for the month.
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Japan's Nikkei average jumped 4.6% on Wednesday. It was its intra-day biggest rise in 6 weeks a day after hitting a 26-year low. Today's gain was led by financial shares as Pandit Vikram's announcement was positive.
Toshiba Corp rose more than 9% and other tech shares gained in wake of strong gains by their USA peers.
The benchmark Nikkei gained 321.14 points to 7,376.12, marking its biggest one-day percentage gain since Jan. 27 and coming right after it ended Tuesday at 7,054.98, its lowest close since October 1982.
But the market was restricted by a 7-percent drop in crude prices pushed energy shares down. Jamie Dimon's commented on CNBC TV, that the bank's bond departments had just its 2 busiest months forever, which reversed a broad decline.
JP Morgan shares rose 4.6 percent to $20.40, while an index of bank stocks climbed 3.1 percent.
Tuesday's huge rally and Wednesday's modest gains marked the first two-day advance for the Dow since Feb 5-6, 2009. The blue-chip average is down 1.9% for the month.
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Japan's Nikkei average jumped 4.6% on Wednesday. It was its intra-day biggest rise in 6 weeks a day after hitting a 26-year low. Today's gain was led by financial shares as Pandit Vikram's announcement was positive.
Toshiba Corp rose more than 9% and other tech shares gained in wake of strong gains by their USA peers.
The benchmark Nikkei gained 321.14 points to 7,376.12, marking its biggest one-day percentage gain since Jan. 27 and coming right after it ended Tuesday at 7,054.98, its lowest close since October 1982.
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