The brokerage reports losing $2 billion in the first quarter, with 4,000 job cuts and $6.6 billion in write-offs due to the sub-prime mortgage crisis. Its shares rise on hopes that storm has peaked. Investors are giving Wall Street's biggest firms the benefit of the doubt.

Investors gain hope after Standard & Poor's says the end of big bank and brokerage write-downs of sub-prime bonds may be in sight. The Dow, which skidded 235 points, finishes up 36 to 12,145. The stock market closed higher Thursday after a steep morning slide, as hopes were again raised that the bottom might be near in the sub-prime mortgage crisis.

The consumer total rises 37% year over year. More is expected. American consumers' bankruptcy filings jumped 15% in February from the previous month and a steeper rise is looming because of the sub-prime mortgage crisis, the American Bankruptcy Institute said Monday.