Wall Street Moves Higher on Citi, BofA Plans

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Wall Street Moves Higher on Citi, BofA Plans

A relieved Wall Street is up in early trading as investors focus on big banks' plans to fix their balance sheets. The market is taking in stride billion-dollar losses reported by Bank of America Corp. and Citigroup Inc. Citigroup is splitting its traditional banking business from its riskier assets. Bank of America, meanwhile, will receive billions of dollars in support from the government as it incorporates recently acquired Merrill Lynch.