Updated from 1:21 p.m. EDT
Back in Form
At 4:37 p.m. EDT
So much for the end of the rally. The
bounced back from the downtick that started the week to surge ahead by 178.73 points, or 2.5%, to 7395.70 Tuesday. That was the highest finish since Feb. 19.
Only three of its 30 stocks declined.
had the steepest drop, falling 8.7% to $5.59, a day after saying it would slash its dividend, lower other costs and look to raise capital.
shed 2% to $2.47, and the other laggard was
Johnson & Johnson
, but it only gave back 1 cent to $50.72.
None of that was enough to prevent the fifth advance in the last six trading sessions.
was the top performer, rising 8.9% to $25.14. Next up was
with a 7.7% gain to $2.51.
was also strong, adding 6.7% at $21.48.
With the latest move higher, the Dow is now up 4.7% since the start of the month, a far cry from what happened in January and February. We've got two weeks to go in March, but it's not too early to start thinking we might see the first positive month of 2009.
See? All's Well Again
At 12:34 p.m. EDT
spent the morning Tuesday unsure where it wanted to go, but right around the midpoint of the session the index was hitting its high for the day, up 83 points, or 1.2%, at 7300. Of the 30 stocks, 20 were rising and the other 10 were lower. Yesterday's late buyers break is all forgotten now.
was pacing the advancing issues, gaining 6% to $2.47. The other financials were mixed.
was up 4.3%, but
Bank of America
Three of those stocks -- Citi, BofA and JPMorgan -- were initiated with perform ratings at Oppenheimer, the firm where
used to take apart the banks.
Financials weren't the only Dow components in the headlines, though.
was among the percentage winners, adding 4.8% to $21.11, after Jefferies gave the home-improvement goods seller a buy rating and a $24 target.
was better by 2.6% at $25 despite a decision by
Standard & Poor's
to cut its long-term outlook on the telecom company to negative from stable.
was tacking on 2.1% to $9.86 following comments from Oppenheimer that the conglomerate has manageable balance sheet risk and shouldn't need to raise new equity.
, where advisers to bondholders and to President Obama's auto task force don't appear to be seeing completely eye to eye, its shares were down 4% at $2.42.