US Stocks Rally;Investors Bet Worst Is Over For Banks, Economy

May 8th, 2009 - Wall Street Journal

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NEW YORK (Dow Jones)--Not even a $75 billion shortfall in bank capital and half a million job losses can deter stock buyers when the whiff of economic recovery is in the air.

Investors have detected an inflection point for the economy, and read the capital shortages exposed by the stress test as manageable in that environment. Bank stocks led the rally even after the government said late on Thursday that 10 of 19 banks need a total of $74.6 billion in additional capital following a round of stress tests.

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