NEW YORK, NY / ACCESSWIRE / December 5, 2017 / The Dow Jones Industrial soared to a record high on Monday as banks and retail stocks skyrocketed after the GOP tax bill was approved over the weekend. The bill could mean significant corporate tax cuts. Bank of America and Citigroup hit brand new highs on Monday with other banking stocks such as JPMorgan Chase and Wells Fargo also jumping higher. Jim Cramer also argued yesterday that both Bank of America and Citigroup could see more gains due to deregulation.

RDI Initiates Coverage on:

Bank of America Corporation
http://www.rdinvesting.com/report/?ticker=BAC

Citigroup Inc.
http://www.rdinvesting.com/report/?ticker=C

Bank of America Corporation shares closed up 3.42% on Monday with a new high of $29.31 hit during intra-day trading. Volume was colossal at nearly 146 million shares traded compared to an average of about 68 million shares. Shares hit their highest yesterday since October of 2008. It was a day of rallying for the banking sector after the new tax bill was approved over the weekend. The bill could potentially cut corporate tax rates from 35% to 20%. It was also revealed yesterday on Bloomberg that the bank has been debating proposals from COO Tom Montag's subordinates over building a European trading hub in Paris, France.

Access RDI's Bank of America Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=BAC

Citigroup Inc. headed higher on Monday, closing the day up 2.11% on a little over 23 million shares traded. The stock soared to a new high of $77.92 and was one among many banking stocks on Wall Street to see gains after the tax bill was approved on Saturday. It was last week that it was revealed that Citibank has raised $6.25 million in its 5th annual e for Education campaign. The campaign is a global initiative which has in total raised over $22.5 million for education-focused non-profits in the last five years. The bank's Global Head of Foreign Exchange and Local Markets, Nadir Mahmud commented, "We are extremely proud to reach the 5 year milestone for this very important campaign. This result could not have been achieved without the support of our clients and employees who supported us to make a positive, significant impact on young people's lives and help them develop skills to move them towards their career goals."

Access RDI's Citigroup Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=C

Our Actionable Research on Bank of America Corporation (NYSE: BAC) and Citigroup Inc. (NYSE: C) can be downloaded free of charge at Research Driven Investing.

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