This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Investment Banks: Asia Winners

NEW YORK (TheStreet) -- Morgan Stanley (MS) was the winner among stocks of large U.S. banks on Monday, with shares rising over 2% to close at $27.44.

The KBW Bank Index (I:BKX) was up 0.5% to close at 63.48, with all but six of the 24 index components ending with gains.

Shares of Goldman Sachs (GS) were up 2% to close at $159.49. Citigroup (C) was also up 2% to close at $50.09.

The broad indices all showed gains of 1% or more, after two pieces of strong economic news out of Asia.

China saw a 7.2% increase in exports during August from a year earlier, according to an announcement on Sunday by China's General Administration of Customs.

Japan's Cabinet Office on Monday revised its estimate of second-quarter gross domestic product growth for the world's third-largest economy to an annual rate of 3.8% from its preliminary estimate of 2.6%. Optimism in Japan was no doubt boosted over the weekend when Tokyo won its bid for the 2020 Summer Olympics.

"Stop underestimating this turn in China already," Jim Cramer wrote in a piece originally published by RealMoney .

Cramer added that "China was the primary driver of so many stocks, even as it might not have been a primary driver of the actual earnings. For example, Caterpillar (CAT) doesn't have all that much business in China, but it is the place that was most over-inventoried."

Shares of Caterpillar were up 3% to close at $85.59.

Cramer also wrote that investors should "stop worrying" over President Obama's proposal for Congressional approval of an attack on forces loyal to Syrian president Bashar Assad, to punished alleged chemical weapons use. "That government is despised worldwide, and Obama will not hesitate to take unilateral action if he has to. He also probably has the votes, even though the media says he doesn't," he wrote.

Back home, the Federal Reserve reported that consume credit in the United States increased by $10.4 billion during July, for an annual growth rate of 4.4%. Analysts polled by Thomson Reuters had expected a consumer credit expansion of $12.3 billion. The consumer credit growth number for June was revised downward to $11.9 billion from $13.8 billion.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs