Late afternoon: M & A transactions to promote broad based banks

U.S. stocks continue to rise late Tuesday. A large number of mergers and acquisitions news and a Chinese official's remarks on the euro-zone debt crisis raised the market's confidence in the financial sector, shares of major banks led the Dow.

At 15:21 on December 21 EST, the Dow Jones industrial average rose 50.03 points to 11,528.16 points, or 0.44%; the Nasdaq composite index rose 17.08 points to 2,666.64 points, or 0.64%; the S & P 500 Index rose 7.09 points to 1,254.17 points, or 0.57%.

Financial sector led the broader market. The Dow rose three full financial stocks, JP Morgan Chase (JPM) rose 3%, American Express (AXP) rose 2%, Bank of America (BAC) rose 1.7%.

Some investors said the TD Bank in Canada, 6.3 billion agreement to acquire Chrysler, the financial sector, the market seems to think that more will occur next year, the financial industry mergers, the entire financial sector so prices. TD Bank rose 2.7%.

Chinese Vice Premier Wang Qishan said on Tuesday that China is ready to help Europe to maintain stability of global markets, the global stock markets generally rose.

Tuesday night, rating agency Fitch's debt outlook to Greece as the "observation and may be cut to junk", this is the third this month, rating agency making such large decisions. However, investors generally expect a recovery in the long term in Europe, so the market is almost ignored this message.

Institutional investors, chief market strategist at Russell Investments - Stephen Wood (Stephen Wood), said, "the situation in Europe has been outstanding debt crisis, which real estate or the job market is not very different, you can lock it has stabilized, but difficult to quickly improve. "

Some investors are expected at the end of the market volume will be very light, but the market volatility may therefore be amplified.

Investment institutions USAA Investment Management Company, Vice President in charge of the stock market Waxi Fu - Latif (Wasif Latif), said, "within the remainder of this year, market conditions seems to be very calm, stable and strong. Implicit in the primary market transfer is expected the U.S. economy will continue, and the slow recovery. "

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