Friday, April 17, 2009

Cautious Optimism

1Thessalonians 5:3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.
Watch how the world propaganda machine swings into gear.
see the following head lines

Citigroup's $1.6B Profit Beats Expectations

Company's first quarterly profit since 2007 offers further evidence that massive rescue efforts are helping banks to revive earnings.

source: Washington post... http://www.washingtonpost.com/

Stocks Rally Again

This is what happens when banks report good news: American stock markets surged today on news from Wells Fargo that it would make record profits in the first quarter of 2009 and that the 19 banks undergoing government “stress tests” are all likely to pass. Barring catastrophe tomorrow, it’s the fifth straight week of stock market gains. Wells Fargo and Bank of America both saw their share prices jump over 30 percent, while even cellar-dweller Citigroup rose 12.6 percent. Better than expected unemployment claims also buttressed the market gains.

source : Read it at Financial Times


Communist News Network CNN. Happy days are here again? Really?
Apr 9: The market rally is starting to turn ridiculous and sublime. Investors now think the worst is over for banks and that consumers are spending freely again. Huh? More

CNBC
Bank Results Show Strength Even Before Mark-to-Market

Accounting changes aimed at helping the balance sheets of banks with toxic assets appear to be providing little or no help so far with earnings reports.


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