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Financial stocks forged higher on Thursday, still feeling the euphoric effects of the Federal Reserve's gargantuan rate cut two days ago, even as the bad news continued to pile on.
The NYSE Financial Sector Index was recently climbing 84 points, or 1.1%, to 7,767.88.
Providing some support, following news that wasn't completely abominable, was credit-card company Capital One (COF Quote). The McLean, Va., firm reported that fourth-quarter income plunged 42% year over year to $226.6 million, or 60 cents a share, though that misses analyst estimates by a mere 3 cents, according to Thomson Financial. Capital One had warned of the income drop a couple of weeks ago. ...
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