Bank Gains Lift Wall Street

Already, the Fed has eased twice, but many investors believe more is needed in order to prevent the credit crisis from leading to a recession. According to their statements, some Fed bankers appear to agree with that position, but others are concerned about the prospects for inflation.

The Philadelphia Housing Sector Index was another of the top performers, increasing 2.7%. Most subgroups ended to the upside, but drug stocks lagged.

Aside from JPMorgan, two other Dow-component stocks made news. McDonald's (MCD Quote - Cramer on MCD - Stock Picks) was higher by 2.9% as its global comparable-store sales rose 8.2% in November. Systemwide sales for McDonald's restaurants worldwide increased 16.3% last month, or 9.6% in constant currencies.

Honeywell (HON Quote - Cramer on HON - Stock Picks) said its board approved a 10% hike in its regular annual dividend to $1.10 from $1 a share, effective with the first-quarter payment. Its stock rose 1.7%.

Separately, a round of acquisitions was being planned, and three of the deals involve U.S. companies being taken over by foreign buyers.

In one, Japan-based drugmaker Eisai will buy biotech MGI Pharma (MOGN Quote - Cramer on MOGN - Stock Picks) for $41 a share, or roughly $3.9 billion. MGI was up 19.6% to $40.

Also, Adams Respiratory Therapeutics (ARXT Quote - Cramer on ARXT - Stock Picks) will become part of England's Reckitt Benckiser in an arrangement worth $2.3 billion, or $60 a share. Adams jumped 35.8% to $59.30.

The other pact will see Claymont Steel (PLTE Quote - Cramer on PLTE - Stock Picks) be bought by Russian steelmaker Evraz for $564.8 million, or $23.50 a share. That sent Claymont shares up 5.9% to $23.29.

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