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Welcome to power lunch, im contessa brewer. Another strong day for stocks as all three indices look for a winding streak the dow is up about 143 points, a slight pullback from where we were a half hour ago both the s p and nasdaq are on pace in more than six years and both indices up 5 health care the best performing sector today johnson johnson, pfizer, eli lilly among the big gainers. A couple beatendown names moving higher, ge back above 15 a share despite being hit with a shareholder lawsuit and snap is now up 50 so far in february. Three hours left in what has been a huge week for stocks....

And the need to slim down is not unique to citi; its industry wide. A financial industry runs into huge problems. It happened in the 30s, and it happened in the last five years. When you go through these periods, you go through a lot of change. That industry is now trying to figure out what is the right size of the industry. Reporter still, economists say citis action today is not the start of a new wave of mass layoffs across corporate america. The nations job market may not be robust, but its not frozen, either. In fact, today, the payroll firm a. D. P. Reported 118,000 new private sector jo...

In Corporate America . Tom im tom hudson. President obama tries to win over top business leaders, warning republicans are holding the Global Economy hostage over the fiscal cliff. Susie and apple shares get of the most widely owned stocks sees heavy trading. Tom that and more tonight on n. B. R. Susie big job cuts today at one of the nations biggest banks. Citigroup announced its slashing 4 of its staff; that works out to 11,000 jobs worldwide. The cuts will save the bank more than 1 billion a year in expenses. But they wont be cheap, resulting in a billiondollar charge against fourthquarter e...

Cutting staff. And the need to slim down is not unique to citi; its industry wide. A financial industry runs into huge problems. It happened in the 30s, and it happened in the last five years. When you go through these periods, you go through a lot of change. That industry is now trying to figure out what is the right size of the industry. Reporter still, economists say citis action today is not the start of a new ve aofls crfe america. The nations job market may not be robust, but its not frozen, either. In fact, today, the payroll firm a. D. P. Reported 118,000 new private sector jobs were a...

Than 1 billion a year in expenses. But they wont be cheap, resulting in a billiondollar charge against fourthquarter earnings. Is this gloomy news from citi the beginning of other companies doing the same . Suzanne pratt reports. Reporter 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. And there could be more. Thats because the monster firm is still struggling to recover from the Great Recession even though it has fired a lot of other workers in the last few years. The thing is, citi has a new c. E. O. In michael corbat, and experts say hes anxious to make his mark, even if ...