Stocks Struggle to Turn Higher; BofA Soars

The Dow Jones Industrial Average came off its lows, led by Chevron [CVX 108.86 -1.32 (-1.2%) ] and United Tech [UTX 74.27 -0.78 (-1.04%) ], after squeezing out a gain in the previous session.

Meanwhile, BofA [BAC 6.22 0.41 (+7.06%) ] and JPMorgan [JPM 35.69 0.74 (+2.12%) ] led the blue-chip gainers.

The S&P 500 and the Nasdaq also shaved some losses to turn mixed. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded near 23.

Financials led the S&P sectors higher, while energy slumped.

"The road to recovery in Europe continues to be bumpy and if we see a domino effect there, investor and consumer confidence in the U.S. will tank,” said Mike Schenk, VP of Economics at CUNA.

Read Full Article from CNBC.com

- Posted: 2012-01-05 12:16:15

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