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Tuesday, May 5, 2009

The Good: S&P 500 Up on the Year; The Bad: Back to 1997 Levels

Reuters details:

U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.

The S&P 500 is now up 34 percent from its 12-year closing low on March 9. The KBW Bank index .BKX leaped nearly 15 percent and is up 88 percent since early March when many thought the government was on the brink of nationalizing several big banks.
While the rebound is nice (and promising), lets put it all in a little perspective before we get too far ahead of ourselves...

Source: Yahoo