Summary Box: Strong bank earnings drive stocks up

AP News
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Posted: Jan 19, 2012 6:54 PM
Summary Box: Strong bank earnings drive stocks up

STRONG BANK EARNINGS: Bank of America rose 2.4 percent and Morgan Stanley rose 5 percent after both banks reported results that were better than analysts were expecting.

GOOD START TO 2012: The stock market is building up a strong start to the year after a tumultuous 2011. The Dow Jones industrial average is up 3.3 percent, and other indexes are up even more: The S&P is already up 4.5 percent and the Nasdaq is up 7 percent.

STEADY AS SHE GOES: The gains have been small, but consistent. The S&P 500 has risen on 10 of the 12 trading days so far this year. It has moved more than one percent on only two of those days.