Another Day, Another Triple Digit Swing in the Dow Jones (C, BAC)

Dow Jones Triple Digit Swings

The Dow Jones is up 169 points heading into the 2 PM EST hour with Citigroup (NYSE:C) and Bank of America (NYSE:BAC) leading the charge thanks to positive GDP news.

Bank of America (BAC) shares are up 4.7% and Citi (C) is jumping 5.6% on the positive bullish day.  As usual, BofA and Cit are the volume leaders as major equities make up for the losses of the past few negative trading sessions.

Symbol Name Last Trade Change Volume
C CITIGROUP INC 4.29 1:43PM ET Up 0.21 (5.15%) 254,107,778
BAC BK OF AMERICA CP 15.61 1:43PM ET Up 0.60 (4.00%) 114,453,196

The Commerce Department says GDP grew at an annual rate of 3.5% last quarter, the first positive quarterly growth in a year, and the largest quarterly advance since the third quarter of 2007. GDP contracted by 0.7% in the second quarter.

Third quarter growth was led by double digit gains in durable goods and residential real estate, categories propped up by government stimulus programs such as the first-time home buyer credit and the Cash for Clunkers program.

President Obama's comments regarding the GDP numbers: 

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