The Dow and S&P 500 were higher in choppy trading on Friday as investors snapped up cheap shares in battered down sectors, including commodities and energy, a day after Wall Street slid to 11-year lows.
But fresh worries about the future of embattled No 2 US bank Citigroup limited a broad market advance as the stock dragged on financials and pushed Citigroup to around 15-year lows. The Nasdaq was held underwater with Google as one of its top drags, losing 2.9 percent to $251.93.
Citigroup shares tumbled more than 18 percent to $3.85 following news reports that the company is considering selling pieces of its business or the entire company outright. The Dow Jones industrial average rose 48.74 points, or 0.65 percent, to 7,601.03. The Standard & Poor's 500 Index added 3.77 points, or 0.50 percent, to 756.21. The Nasdaq Composite Index was off 2.89 points, or 0.22 percent, to 1,313.23.
Comments
Comments are closed.