Wall Street in explosive rally
11-03-2009
U.S. stocks posted their best day in four months after Citigroup said it was profitable in the first two months of 2009. The market also got a boost, lifting shares off 12-year lows. The Dow Jones Industrial Average jumped 5.8 percent and the Nasdaq was up 7 percent. The rebound came as an internal memo showed that Citigroup is seeing a return to profitability in early 2009 after punishing losses last year. Chief executive Vikram Pandit said Citi has been profitable for the first two months of 2009 and was having its "best quarter-to-date performance since the third quarter of 2007."
