Financials Soar In Early Trading

Germany Goal

Across the floor banks are up after the bell, with 31% of financial institutions posting gains upwards of 2% in the first 30 minutes of trading.

Deutsche Bank posted the largest gain, up $2.84, or 8.1%, to $37.99. Morgan Stanley added $0.87, or 5.6%, to $15.41, Goldman is up $3.68, or 3.7%, to $102.77, J.P. Morgan advanced $1.26, or 3.9%, to $32.88, Citigroup gained $1.21, or 4.4%, to $27.90, and Bank of America improved $0.20, or 3.0%, to $6.78.

The broader indexes were also up, with the Dow gaining 2.0% to 11,264, the Nasdaq up 1.65% to 2,558, and the S&P 500 up 2.0% to 1,186. Analysts are attributing gains to optimism that Europe will attempt to meaningfully solve debt solvency issues on the continent, particularly on the heed of Secretary Treasury Tim Geithner’s comments last night.

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