Stocks increased today, as investors shrugged off a disappointing reading on the Consumer Confidence index, which reached a record low.  The KBW Banking Index rose 3.62% and the KBW Regional Banking Index rose 3.74%. The S&P 500 Index was up a somewhat smaller 2.44%.

The Bank Index was led by National City, KeyCorp, and Bank of New York Mellon, which were up 8.38%, 6.54%, and 5.90%, respectively. Leading the Regional Banking Index were Citizens Republic Bancorp, UCBH Holdings, and CVB Financial Corp., which were up 11.11%, 8.33%, and 7.38%, respectively.