Stocks Rebound as Banks Recover with Morgan Stanley (MS) and Ryder (R) on the Move
Posted on June 22, 2012 at 10:47 AM EDT
Stocks moved higher this morning in the wake of Thursday's sharp losses, led by shares of financial firms as investors shrugged off a much-anticipated round of bank downgrades. Moody's Investors Service lowered the credit ratings of more than a dozen large banks world-wide, citing significant exposure to volatility and risk of large losses from capital markets activities. Investors had been bracing for downgrades since Moody's said in February that it was reviewing more than 100 global bank...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
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