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Bank stocks continue to rally Wednesday

Bank stocks continue to rally Wednesday

Financial firms are continuing to rally amid hope for additional government support and as an analyst upgrades two major banks.
Wednesday's rally comes a day after banks surged. On Tuesday, Citigroup's chief executive said the beleaguered bank operated at a profit in January and February.
The KBW Bank Index jumped nearly 5 percent, after surging nearly 16 percent Tuesday.
One analyst says the government has signaled in recent days it might relax accounting rules that have forced banks to takes hundreds of billions of dollars in write-downs since the middle of 2007.
Another analyst on Wednesday upgraded his ratings on Morgan Stanley and U.S. Bancorp. Each banks' shares jumped more than 10 percent.


Updated : 2021-01-23 20:12 GMT+08:00