Monday, March 16, 2009

Investor are Optimist, Wall Street Continues Its Rally (March 16th, 2009)

The Dow Jones Industrial, S & P 500, and bank stock prices rose for the fifth day, after the banks reported its profit in January and February 2009.

Investors are still optimistic on the news about Citigroup, Bank of America, and JP Morgan Chase's profit. Ben Bernanke, the Chairman of the Federal Reserve also said that at the end of 2009, the recession would probably end if the government can successfully strengthen the banking system. He said that the government needs to encourage banks to lend money more freely and get the financial markets to work more normally.

And moreover, today the British bank Barclays PLC said that its bank's performance was also increased at the beginning of 2009. All of these news have more strengthen the investor's hope that the market has already reached its bottom...


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