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Wall Street’s New Bull Market: 7 Signs the Bear is Dead…
Believe it or not, but based on the classic Wall Street definitions, we’re in a new bull market. As of last Friday, all three major market indices recovered more than 20% from their March 9 lows.
Of course, we’ve been here before. Or as Yogi Berra liked to say, “It’s like déjà vu all over again.”
Recall, back in November of 2008 the markets began an impressive run-up, hitting the 20% milestone, too. Then all hell broke loose.
As a result, not every market observer, myself included, is completely convinced by the recent move. But I will say this – seven notable differences…
8Apr2009 | Investment U | 0 comments | ContinuedBillions in U.S. Bank Rescue Funds are Fueling Buyouts Worldwide – Instead of Lending at Home
Bank of American Corp. (BAC), which is getting $15 billion from the U.S. government as part of the Treasury Department’s $250 billion “recapitalization” effort, is doubling its stake in state-owned China Construction Bank Corp., and will hold a 20% stake worth $24 billion in China’s second-largest lender when that deal is finalized.
PNC Financial Services Group Inc. (PNC), which will get $7.7 billion from Treasury’s Troubled Assets Relief Program (TARP), is using that cash infusion to help finance its $5.2 billion buyout of embattled National City Corp. (NCC).
And U.S. Bancorp (USB), which received a $6.6 billion capital infusion from that same rescue…
5Dec2008 | Money Morning | 0 comments | Continued
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