Early Volume Leaders include Citi, GE, BofA and Ford
The major equity markets are trying to find steam from yesterday's announcement that the 'Recession is Over'. Leading the volume today is a familiar sign of the same bat-time, same bat-channel stars: Citigroup (NYSE:C), General Electric (NYSE:GE), Bank of America (NYSE:BAC) but a surprise appearance by Ford Motor (NYSE:F).
First up, Citigroup Inc. (NYSE:C) is planning to exit the FDIC's debt guarantee program, according to Bloomberg. The bank currently had $72.4 billion of FDIC-guaranteed debt outstanding as of June 30 and doesn't plan to seek an emergency extension, sources said.
General Electric (NYSE:GE) shares are now over $16, as we all know GE is the leading component of the Dow Jones Industrial Average, and is currently trading up 4% at $16.69.
Bank of America (NYSE:BAC) and Ford (NYSE:F) are holding their own today and just treading water as the market trades on amid reports showing tame consumer-level inflation and a rise in industrial production in August, and a slight narrowing of the current account deficit.
Volume as of 11:44 AM EST for the leaders is the following:
| C | CITIGROUP INC | 4.25 |
519,629,707 | |
| GE | GEN ELECTRIC CO | 16.67 |
108,054,601 | |
| BAC | BK OF AMERICA CP | 17.18 |
77,054,679 | |
| F | FORD MOTOR CO | 7.13 |
49,336,891 |
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