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Dow Reaches its Highest Since 2007, Morgan Stanley and Citigroup Lifted by Deal (MS, C)

By: , dated September 11th, 2012
As the Fed prepares for tomorrow’s policy meeting, US stocks moved higher on Tuesday ahead of possible stimulus action. The Dow ended at its highest since December 2007, nearly five years ago. The United States also saw some negative news with reports of a growing trade deficit and Moody’s announcement that the country’s triple-A rating may be stripped, causing the dollar to fall to a four-month low. McDonald’s Corp (MCD) advanced after their reported increase in sales while Citigroup (C) was hit by $2.9 billion on their Smith Barney sale. In global markets, European equities rallied to reach thirteen-month highs while Asian stocks fell as investors await important announcements starting on Wednesday.

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