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Stocks snapped 4-Week Losing Streak on Fed Hopes (AAPL, ARMH, BAC, C, FSLR ...
Rivals JPMorgan ( NYSE:JPM ) and Citigroup ( NYSE:C ) were able to reverse earlier losses, rebounding from new 52-week lows and finishing sharply higher. JPMorgan posted a new 52-week low at $32. 78, while Citigroup posted a new low at $25. Meanwhile, Dick Bove, a senior analyst at Rochdale Securities, also came in defense of Bank of America in an interview at Bloomberg TV, saying the company has sufficient capital and emphatically dismissing the need to raise capital.