Saturday, April 11, 2009

Economy USA: Banks: Some banks rise, investors respond with "biggest jump" since 1933

Eric Martin and Lynn Thomasson in their report, "US Stocks Gain, Capping Biggest Jump since 1933 as Banks Rise" (Apr10,2k9), documenting a steady 5-week rise. That's the plus side. But, in a short work week due to a holiday,

The Dow Jones Industrial Average added [only] 0.8 percent to 8,083.38 this week. U.S. exchanges are closed today for Good Friday.
The positive trend is confirmed a day after Prez Obama's remark about "glimmers of hope" in the economy. Michael Fletcher reports the President's take in "On economuy, Obama sees glimmers of hope and signs of progress."

At the same time, authorities continue to close down banks that have endangered the broad spectrum of their depositors and those who are paying regularly on their loans.

-- EconoMix