U.S. markets rose for the first time in 2014 on news that the U.S. trade deficit shrank to a four-year low. The Dow Jones Industrial Average gained 0.64 percent to close at 16,530.94, while the S&P 500 Index gained 0.61 percent to close at 1,837.88. The trade deficit fell 12.9 percent to $34.3 billion, well short of economists’ forecasts of $40.0 billion. "With a continuation of strong data from the end of last year, people are starting to think maybe 2014 will be a breakout year for the economy," said Nick Sargen, chief investment officer at Fort Washington Investment Advisors.
Bank of America Corp. (NYSE: BAC) shares traded in the range of $16.45 to $16.79 Tuesday before settling to close at $16.50, a decrease of 0.96 percent. The stock appears to be facing some resistance at $16.53 with some support at the $16.23 and $16.00 levels. Shares of Bank of America have gained approximately 36.0 percent in the past year.
More information on Bank of America and access to the free equity report can be found at: www.WallStreetFundamentals.com/BAC
Citigroup Inc. (NYSE: C) shares traded in the range of $53.78 to $54.72 Monday before settling to close at $54.18, an increase of 0.69 percent. The stock appears to have some support at the $53.26, $53.00 and $52.69 levels. Shares of Citigroup have gained approximately 27.0 percent in the past year.
More information on Citigroup and access to the free equity report can be found at: www.WallStreetFundamentals.com/C
Morgan Stanley (NYSE: MS) shares traded in the range of $31.41 to $31.89 Monday before settling to close at $31.52, a decrease of 0.32 percent. The stock appears to be facing some resistance at $32.30 with some support at the $31.39 and $30.82 levels. Shares of Morgan Stanley have gained approximately 55.0 percent in the past year.
More information on Morgan Stanley and access to the free equity report can be found at: www.WallStreetFundamentals.com/MS
Wells Fargo & Co. (NYSE: WFC) shares traded in the range of $45.22 to $45.80 Monday before settling to close at $45.40, a decrease of 0.04 percent. The stock appears to be facing some resistance at $45.59 with some support at the $45.24 and $44.69 levels. Shares of Wells Fargo have gained approximately 30.0 percent in the past year.
More information on Wells Fargo and access to the free equity report can be found at: www.WallStreetFundamentals.com/WFC
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