BofA and GE Help Push the Dow Jones
General Electric (NYSE:GE) finished the day up 1.13% and Bank of America Corp. (NYSE:BAC) ran up 2.85%, both of these heavy weight companies helped lift the Dow Jones Industrial Average (.DJI) to a high not seen since 2008 -- hello 11,500.
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Its an amazing sight the Dow Jones (.DJI) has bounced back more than 18% since July and YTD its up 10.6%. The Dow closed Tuesday (Dec 21st) at 11,533.16, it hasn't reached this level since 2008. Bank of America (BAC) was a pick on CNBC's Fast Money today, Tim Seymour likes the chart on BofA and recommends buying at this level. Over the past 12 months Bank of America Corp (BAC) shares have traded between $10.91 and its 52-week high of $19.86. BAC shares closed the day at $12.98, up 2.85% or $0.36 and volume finished at 163,046,180 shares traded. BofA shares are 15.95% away from their 52-week low.
GE FINALLY GETS LOVE FROM WALL STREET
Now there's something you don't hear everyday but its true, the good news came from Oppenheimer who today raised their price target on General Electric (GE) from $20 to $21. Thus the firm believes GE shares still could rally another 17.3% in the next 12 months.
Oppenheimer still maintains its "Outperform" rating on GE.