Today JPMorgan Chase's (JPM) CEO Jamie Dimon shared the good news that his bank had passed the stress tests, fueling further market gains late afternoon. The bank also announced it will raise its quarterly dividend to 30 cents and buy back $12 billion worth of stock. The stock finished the day up 7%. Four of 19 banks failed the stress test: Citigroup, SunTrust Capital, Ally, and MetLife.
The Nasdaq vaulted 1.9%, reaching its highest since November 2000, and Apple stock (AAPL) had another big day, adding 2.9% as shares closed at $568.10 which is yet another record high. The company now boasts a market cap of nearly $530 Billion.