The Federal Reserve will purchase up to $300 billion in long term government bonds. Shares of banking stocks Citigroup Inc. (NYSE: C) leaped 57 to close at $3.08, Bank of America Corp. (NYSE: BAC) jumped $1.40 to close at $7.67, Wells Fargo & Co. (NYSE: WFC) surged $2.56 to close at $17.22 and Regions Financial Corp. (NYSE: RF) soared 86 cents to close at $4.95.
