Bear Growls Again on Wall Street
However recent rallies suggest light at end of tunnel is possible.
Bryce Knorr
Published: Apr 21, 2009
Just when investors were starting to breathe easier, that familiar tightness again gave them a gut-check on Monday. The Dow broke almost 300 points on a combination of profit taking and fears that banks may face more problems. While the nation's biggest lender, Bank of America, turned a profit, most of the gains were temporary, and the firm warned of more potholes ahead.
With one-fifth of the Fortune 500 reporting earnings this week, the headline risk was too great for many investors, who banked profits had headed to the sidelines.
Still, the recent rally seemed to reflect more ideas the light at the end of the tunnel is, if not in sight, at least possibly there. That has money managers ready to take more risk, but a test of lows is not out of the question in coming months. To read Bryce Knorr's complete weekly financial review, click HERE.
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