Tom
13 March 2009, 11:02 PM
NEW YORK - A stunning about-face in bank shares handed the stock market its best week since November.
The market has shot up as much over the past several days as it might in some years, with major indicators chalking up gains of around 10 percent.
Friday’s gains were modest compared with the huge rallies on Tuesday and Thursday, but investors welcomed the moderate buying and the market’s ability to hold its ground. Several other recent rallies have ended with disappointing selloffs.
Fears have eased that the nation’s major financial institutions would collapse or at least require additional government lifelines to stay alive. Market veterans were quick to rein in hopes that the market would chart an uninterrupted recovery but many still saw the four straight days of gains a good sign.
[Full Story] (http://www.msnbc.msn.com/id/3683270/) (MSNBC)
Does this mean that stock market is slowy pulling itself up? And if so, will the economy follow?
The market has shot up as much over the past several days as it might in some years, with major indicators chalking up gains of around 10 percent.
Friday’s gains were modest compared with the huge rallies on Tuesday and Thursday, but investors welcomed the moderate buying and the market’s ability to hold its ground. Several other recent rallies have ended with disappointing selloffs.
Fears have eased that the nation’s major financial institutions would collapse or at least require additional government lifelines to stay alive. Market veterans were quick to rein in hopes that the market would chart an uninterrupted recovery but many still saw the four straight days of gains a good sign.
[Full Story] (http://www.msnbc.msn.com/id/3683270/) (MSNBC)
Does this mean that stock market is slowy pulling itself up? And if so, will the economy follow?