Diversified financial-services companies' shares gained Monday after global banker HSBC Holdings said its first-quarter profits rose and JPMorgan Chase CEO Jamie Dimon estimated the credit market crisis to be 75 percent over.
On a gloomier note, HSBC wrote down billions of dollars due to the U.S. credit market problems and Dimon said his company believes the recession is just beginning.
Wall Street was also buoyed by a rising dollar and falling oil prices, which eased some worries about inflation.
Where some diversified financial companies' shares closed on Monday:
Citigroup Inc., up a penny to $23.64.
Bank of America Corp., rose 79 cents, or 2.2 percent, to $37.44.
CIT Group Inc., added 48 cents, or 4.1 percent, to $12.10.
JPMorgan Chase & Co., gained 67 cents to $47.24.
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