Tuesday, March 10, 2009

Stock Prices Rose After Citigroup Reported Its Operating Profit

Wall street's stock prices rose after Citigroup reported operating profit of $ 8.3 billion during the first 2 months in 2009. Because of this story, Citigroup shares rose 27 percent, and other banking stock prices also increased sharply.

However, although Wall Street have soared after Citi's new, There are some bad rumours running on stock market. The rumour have circulated that SEC did not plan to suspend the mark-to-market accounting rule. But the markets showed little reaction to the news and traders said it was not a surprise.

On the other side, only for information, that the oil's price increased to near $48/barrel after OPEC signaled they will announce their production cut within days.


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