Optimistic Second Quarter Kickoff
Having decided against spreading volatile rumors with which to joshingly ring in the Fool's Day, Wall Street and its investors took April 1 to mark a markedly more serious occasion: the opening of 2008's second quarter, and the potential therein to begin resurrecting the economy.
The Dow Jones industrials surged nearly 400 points, and the stocks of several big-time investment banks climbed significantly. Analysts speculate that investors may believe the credit crisis to be behind us (and banks to be taking action to avoid a fate similar to Bear Stearns') and the economy to be in better shape than some have said.
Then again, a new report predicts that in the next 12 to 18 months, 200,000 U.S. commercial banking jobs may be lost in the wake of the subprime crisis.
As for what's truly to come, just you wait. After all...tomorrow is another day.