Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, October 18, 2010

Monday

Stocks closed higher today as investors were encouraged by earnings from Citigroup and a measure of home-builder confidence that topped expectations. The Dow rose .73% to its highest close since May 3. Citigroup jumped 5.6% today after its third-quarter earnings topped analysts' estimates. Revenue climbed 2%, meeting expectations, as the company managed to grow its core businesses broadly. Also lifting sentiment, the National Association of Home Builders said its housing-market index rose three points to 16 in October, the first improvement in five months. DJIA +80.91 Nasdaq +11.89 S&P 500 +8.52.