Summary Box: Banks push stock indexes higher

AP News
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Posted: Mar 08, 2011 5:05 PM
Summary Box: Banks push stock indexes higher

DIVIDEND WATCH: Financial stocks rose 2 percent after Bank of America's chief executive said that the company's profits will rise as its businesses stabilize. That led analysts to anticipate that consumer banks may soon increase their dividends.

OIL DIP: Oil prices dipped to $105 a barrel after OPEC ministers met to discuss increasing oil output.

THE INDEXES: The Dow Jones industrial average gained 124.35 to 12,214.38. The Standard & Poor's 500 index rose 11.69 to 1,321.82. The Nasdaq composite rose 20 to 2,765.77