Early Volume Leaders include Citi, GE, BofA and Ford

Same Bat-Time, Same Bat-Channel

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 11:43AM ET Up 0.13 (3.16%) 519,629,707
GE GEN ELECTRIC CO 16.67 11:43AM ET Up 0.67 (4.19%) 108,054,601
BAC BK OF AMERICA CP 17.18 11:43AM ET Up 0.39 (2.32%) 77,054,679
F FORD MOTOR CO 7.13 11:43AM ET Down 0.07 (0.97%) 49,336,891

 

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