Kathianne
04-01-2008, 01:04 PM
For today it seems the investors think so:
http://news.yahoo.com/s/ap/20080401/ap_on_bi_st_ma_re/wall_street
Bank news, economic data boost stocks
By JOE BEL BRUNO, AP Business Writer 40 minutes ago
Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks amid optimism that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged more than 300 points.
Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new stock to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos. Analysts believe there must be a recovery in bank and brokerage stocks to lead major stock indexes higher. Some of the biggest financial players had their biggest moves of the year Tuesday — Citigroup Inc. shot up 10 percent, JPMorgan Chase & Co. rose 7 percent, and Lehman surged 11 percent...
...Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.53 percent from 3.43 percent late Monday.
In addition to optimism about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.
And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude was up 25 cents at $101.83 a barrel on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce....
http://news.yahoo.com/s/ap/20080401/ap_on_bi_st_ma_re/wall_street
Bank news, economic data boost stocks
By JOE BEL BRUNO, AP Business Writer 40 minutes ago
Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks amid optimism that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged more than 300 points.
Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new stock to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos. Analysts believe there must be a recovery in bank and brokerage stocks to lead major stock indexes higher. Some of the biggest financial players had their biggest moves of the year Tuesday — Citigroup Inc. shot up 10 percent, JPMorgan Chase & Co. rose 7 percent, and Lehman surged 11 percent...
...Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.53 percent from 3.43 percent late Monday.
In addition to optimism about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.
And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude was up 25 cents at $101.83 a barrel on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce....