U.S. markets rose for the first time in 2014 on news that the U.S. trade deficit shrank to a four-year low. The Dow Jones Industrial Average gained 0.64 percent to close at 16,530.94, while the S&P 500 Index gained 0.61 percent to close at 1,837.88. The trade deficit fell 12.9 percent to $34.3 billion, well short of economists’ forecasts of $40.0 billion. “With a continuation of strong data from the end of last year, people are starting to think maybe 2014 will be a breakout year for the economy,” said Nick Sargen, chief investment officer at Fort Washington Investment Advisors.
Bank of America Corp. (NYSE: BAC) shares traded in the range of $16.45 to $16.79 Tuesday before settling to close at $16.50, a decrease of 0.96 percent. The stock appears to be facing some resistance at $16.53 with some support at the $16.23 and $16.00 levels. Shares of Bank of America have gained approximately 36.0 percent in the past year.
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Citigroup Inc. (NYSE: C) shares traded in the range of $53.78 to $54.72 Monday before settling to close at $54.18, an increase of 0.69 percent. The stock appears to have some support at the $53.26, $53.00 and $52.69 levels. Shares of Citigroup have gained approximately 27.0 percent in the past year.
More information on Citigroup and access to the free equity report can be found at:
Morgan Stanley (NYSE: MS) shares traded in the range of $31.41 to $31.89 Monday before settling to close at $31.52, a decrease of 0.32 percent. The stock appears to be facing some resistance at $32.30 with some support at the $31.39 and $30.82 levels. Shares of Morgan Stanley have gained approximately 55.0 percent in the past year.
More information on Morgan Stanley and access to the free equity report can be found at:
Wells Fargo & Co. (NYSE: WFC) shares traded in the range of $45.22 to $45.80 Monday before settling to close at $45.40, a decrease of 0.04 percent. The stock appears to be facing some resistance at $45.59 with some support at the $45.24 and $44.69 levels. Shares of Wells Fargo have gained approximately 30.0 percent in the past year.
More information on Wells Fargo and access to the free equity report can be found at:
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