Business

Snapshot: Banks rally on a day that’s mostly flat

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Major stock indexes were little changed after last week’s record-setting­ run, though Bank of America led a rally in big-bank stocks. The bank and MBIA, a bond-insurance company, settled a longstanding dispute. BofA will pay $1.7 billion and extend credit to troubled MBIA. Bank of America gained 5.2%; MBIA was up 45.4%. Six of the 10 industry groups in the S&P 500 rose, with financial companies leading. The market cleared new milestones Friday after the US reported the unemployment rate fell to 7.5%. That sent the Dow through the 15,000 mark for the first time, while the S&P 500 closed above 1,600, another first.

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