Today was a good day to be a bank.
The Public-Private Investment Program to address toxic financial assets sent the S&P Bank Index soaring nearly 20% to 86.70. Of the 27 banks in the index, 19 closed higher today. Wells Fargo & Co., Keybank, and PNC Financial Services Group Inc. were big gainers today.
Higher prices for bank stocks sent the broader Dow Jones Industrial Average up about 7%.
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