Bank Stocks Rise after Agreement on Financial Regulation Bill is reached (BAC, C, MS, GS)

Banking stocks are rising in today’s trading as lawmakers reached an agreement on the financial regulation overhaul bill. Although the new bill would regulate banks’ ability to trade in derivatives, it is less stringent than was initially feared by markets. With this, a lot of uncertainty surrounding the large financial stocks has ended and markets have reacted positively to the news, with all major financial stocks up.

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Bank Of America Corporation (NYSE: BAC) is up 2.10% to $15.34 on volume of 72.37 million. The stock opened at $15.26 and reached an intra-day high of $15.34. The Bank of America Corporation stock has a 52-week range of $11.27-$19.86. It has a 50-day moving average of $16.46 and a 200-day moving average of $16.38. The support level for the stock is at $14.90, while the resistance level is at $15.64.

Citigroup Inc. (NYSE: C) is up 3.97% to $3.93 on volume of 388.53 million. The stock opened at $3.85 and reached an intra-day high of $3.93. The Citigroup Inc. stock has a 52-week range of $2.55-$5.43. It has a 50-day moving average of $4.10 and a 200-day moving average of $3.99. The support level for the stock is at $3.75, while the resistance level is at $3.95.

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Morgan Stanley (NYSE: MS) is up 2.60% to $24.89 on volume of 9.85 million. The stock opened at $24.65 and reached an intra-day high of $24.65. The Morgan Stanley stock has a 52-week range of $24.19-$35.78. It has a 50-day moving average of $27.50 and a 200-day moving average of $29.59. The support level for the stock is at $23.98, while the resistance level is at $25.71.

Goldman Sachs Group Inc. (NYSE: GS) is up 2.80% to $138.76 on volume of 5.83 million. The stock opened at $136.99 and reached an intra-day high of $138.67. The Goldman Sachs Group Inc. stock has a 52-week range of $131.30-$193.60. It has a 50-day moving average of $$143.90 and a 200-day moving average of $163.47. The support level for the stock is at $133.40, while the resistance level is at $137.56.

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