Treasury Secretary nominee Timothy Geithner’s nomination buoyed Wall Street markets. Merrill Lynch CEO John Thain resigns from Bank of America. Citi named former Time Warner CEO Richard Parsons its chairman. Initial jobless claims for unemployment benefits tied a 26-year record last week. New home housing permits and starts drop to record low in December, dropping to the lowest numbers since the data has been recorded. County County’s initial jobless Claims tied 26-Year high last week, more than the forecasts predicted.”]
Source: https://www.cuinfosecurity.com/banks-lead-wall-street-rally-a-1172