U.S. stocks rose about 5 percent on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the restoration of the uptick rule. Citigroup’s Chief Executive Vikram Pandit also said in a memo the beleaguered bank was confident about its capital strength. Shares of Citigroup, in which the government recently took a large common equity stake to help shore it up, jumped 35.2 percent to $1.42. Citi’s stock has fallen about 80 percent year to date.
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March 14th, 2009 at 5:32 am
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