Sentiments Improve With Less-Severe-Than-Anticipated Changes In Financial Regulation; US Stocks Inch Up

US stocks are moving up gradually in late afternoon trading, driven by relief felt by investors from less-severe-than-expected changes in the financial regulation. The improved sentiment has helped markets recoup a portion of the losses incurred over the week. While the Dow Jones Industrial Average has climbed 21 points, or 0.2%, to 10174, the Nasdaq Composite has moved up 0.6% to 2232. Meanwhile, the Standard & Poor's 500 stock index added 0.7% to 1081. The financial components of the Dow pulled up the measure, with Bank of America BAC climbing 3.6% to claim the top spot. JP Morgan Chase JPM was a close second, with shares gaining 3.5%. Investor worries regarding the impact of consumer spending on the measure’s consumer components weighed on the sectors, putting a check on the gains in the Dow. The stocks that are the biggest losers so far in the day are Coca-Cola KO, which slid 1.6%, and Wal-Mart Stores WMT, which dropped 1.7%. Read more from Benzinga's Markets.