NEW YORK (MarketWatch) --
Morgan Stanley shares posted a better than 2% gain early Wednesday and helped lead
financial stocks higher after various media reports, all citing unnamed sources described as familiar with Facebook's IPO plans, said that the firm had won the coveted role as lead underwriter of that IPO. The New York Times' DealBook website reported late Tuesday that Morgan Stanley had been tapped for the plum role, with J.P. Morgan Chase & Co. as the secondary manager and Goldman Sachs Group Inc expected to be listed third. In the broader market, the Financial Select Sector SPDR ETF , which tracks the financial stocks in the S&P 500 , added 1.4%. Among the
Dow Jones Industrial Average's financial components, J.P. Morgan added 1.6%, Bank of America Corp rose 1.4%, American Express Co. gained 0.6% and Travelers Cos. Inc. put on 1.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Weiter zum vollständigen Artikel bei
"Market Watch"