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Wall Street Shows Optimism That Crisis Is Fading

First Posted: 04/09/08 06:12 AM ET Updated: 05/25/11 01:30 PM ET

Wall Street

New York Times:

Stocks started the second quarter with a soaring rally on Tuesday that sent the Dow Jones industrial average up nearly 400 points, its best performance in two weeks, as investors found reasons to take heart in a fresh round of mortgage-related write-offs at UBS and Deutsche Bank and a capital infusion at Lehman Brothers, the brokerage firm.

The Standard & Poor's 500-stock index gained 3.6 percent on the strength of a surge in shares of financial services firms. Lehman Brothers, the bond insurer MBIA and the mortgage giant Fannie Mae were among the index's biggest gainers.

Read the whole story: New York Times


Filed by Nicholas Sabloff  |