Financial brands Bank of America, JPMorgan Chase and American Express led gainers on the Dow Friday. Stocks stepped up on optimism that Europe has secured plans to ramp up its rescue fund, and encouraging consumer confidence data. The University of Michigan’s initial reading on consumer sentiment hit 67.7. Up from a final November reading of 64.1, the gauge was projected to rise to 65.8. Looking ahead, next week is chock full of IPO action, with companies Jive Software, Michael Kors and Zynga launching. The Federal Reserve is also scheduled to meet.
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