Wall Street rises slightly after three-day rally

NEW YORK, March 13 (Chinese media) -- Wall Street rose slightly Friday, after a three-day rally as investors digested more encouraging news about banks and better-than-expected economic data.

Citigroup's Chairman Richard Parsons said Citi doesn't need additional government support after receiving three bailouts. Financial stocks perked up on the news.

The U.S. Commerce Department said Friday the trade imbalance dropped to 36 billion U.S. dollars in January, a decline of 9.7 percent from December and the lowest level since October 2002. While U.S. exports fell sharply, imports fell at an even faster clip as a deepening recession cut demand for goods from abroad.

Moreover, the Reuters/University of Michigan index of consumer sentiment climbed to 56.6 in March form 56.3 in February, slightly better than expected.

The Dow Jones industrial average gained 53.92 points, or 0.75 percent, to 7,223.98. The Standard Poor's 500 rose 5.81 points, or 0.77 percent, to 756.55. The Nasdaq composite index added 5.40 points, or 0.38 percent, to 1,431.50.