Thursday, July 17, 2008
Turning the corner or a false dawn?
"US stock markets have rebounded strongly after better-than-expected results from a leading bank and further sharp falls in the price of oil. The Dow Jones index closed up 2.5% after its strongest daily performance in three months, driven by demand for leading bank stocks. Citigroup, Bank of America and JP Morgan all rose sharply after Wells Fargo boosted its shareholder dividend. Oil, meanwhile, fell more than $4 to close below $135 a barrel." Thought i'd post this to stimulate some discussion. Are things really as bad as we thought, or is this a rally before the crash?