MQG overvalued in the current market, page-53

Please give us your continued follow up after the Friday close which is summarised below:

US stocks advanced broadly, bolstered by better-than-expected economic data and quarterly results as well as an effort by Federal Reserve policymakers to dispel the prospect of a 1 per cent rate rise this month.At the close, the Dow was up 658 points or 2.15 per cent to 31,288.26.

Financials rose 3.5 per cent, pacing all 11 of the S&P 500 industry sectors up.Citigroup shares leapt 13.2 per cent after it posted a smaller-than-expected 27 per cent drop in quarterly profit on unusual strength in its treasury services business and its trading desks cashed in on market volatility.

Bank of America surged 7 per cent,Wells Fargo gained more than 6 per cent. JPMorgan rose 4.6 per cent and Morgan Stanley 4.5 per cent.
Source:AFR