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Wall Street Roundup: Wells Fargo wins on Wall Street. On-air tax fight.

December 17, 2010 |  8:15 am

Gold: Trading now at $1,367 per ounce, down 0.3% from Thursday. Dow Jones industrial average: Trading now at 11,465.70, down 0.3% from Thursday.

Things looking up. An index of economic indicators confirms what a lot of recent economic reports have suggested: The economy is building momentum. It wasn't enough, though, to send stocks up Friday morning.

Wells Fargo wins on Wall Street. The California-based bank vaulted past JPMorgan Chase & Co. to become the largest American bank by market capitalization.

On-air tax fight. A CNBC anchor served the unexpected role of challenging Wall Street magnate Steve Schwarzman on his support for cutting taxes for the rich.

Big Madoff settlement. The estate of Jeffrey Picower, one of Bernard Madoff's closest associates, has agreed to pay $7.2 billion that will be distributed to Madoff victims.

-- Nathaniel Popper