By Eric Martin and Lynn Thomasson
April 10 (Bloomberg) -- U.S. stocks rose for a fifth week, capping the steepest rally since 1933, as Wells Fargo & Co.’s higher-than-estimated earnings and speculation banks will pass government stress tests spurred optimism that the industry’s slump is ending.
Bank of America Corp., American Express Co. and JPMorgan Chase & Co. helped drive a gauge of 80 financial companies in the Standard & Poor’s 500 Index to a 9.4 percent advance. Wells Fargo surged 20 percent after reporting record first-quarter profit. Lincoln National Corp. and Principal Financial Group Inc. jumped at least 37 percent as the Treasury considered bailouts for life insurers.
... read the complete article at http://www.bloomberg.com/apps/news?pid=20601087&sid=a9bx2uPiMUgw&refer=home
Friday, April 10, 2009
Wednesday, April 1, 2009
For Wall Street, March is best month since 2002
By Edward Krudy
NEW YORK (Reuters) - Stocks climbed on Tuesday, driving the S&P 500 to its best month since October 2002, as investors snapped up top-performing bank and technology shares as the first quarter came to an end.
Upbeat news from Europe set the tone for financials, helping them recover much of Monday's losses and continue a recent robust rally after British bank Barclays (BARC.L) declined to take part in a government asset-protection plan.
Technology shares added to a strong three-week rally after brokerage Davenport recommended investors buy Microsoft Corp (MSFT.O), pointing to increased demand for personal computers in China and the United States, and potential restocking of inventories in Europe.
... Read Complete Story at http://www.reuters.com/article/businessNews/idUSTRE52T35C20090331?feedType=RSS&feedName=businessNews
NEW YORK (Reuters) - Stocks climbed on Tuesday, driving the S&P 500 to its best month since October 2002, as investors snapped up top-performing bank and technology shares as the first quarter came to an end.
Upbeat news from Europe set the tone for financials, helping them recover much of Monday's losses and continue a recent robust rally after British bank Barclays (BARC.L) declined to take part in a government asset-protection plan.
Technology shares added to a strong three-week rally after brokerage Davenport recommended investors buy Microsoft Corp (MSFT.O), pointing to increased demand for personal computers in China and the United States, and potential restocking of inventories in Europe.
... Read Complete Story at http://www.reuters.com/article/businessNews/idUSTRE52T35C20090331?feedType=RSS&feedName=businessNews
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