Bank stocks led the market higher today after an accounting board told Congress that it may recommend changes in the way banks value assets.  The KBW Banking Index rose 11.23% and the KBW Regional Banking Index rose 10.04%. The S&P 500 Index was up 4.07%.

The Bank Index was led by Huntington Bancshares Incorporated, Capital One, and Bank of America, which were up 34.40%, 23.01%, and 18.66%, respectively.  Leading the Regional Banking Index were Colonial Bancgroup, Citizens Republic Bancorp, and UCBH Holdings, which were up 30.56%, 29.76%, and 20.57%, respectively.