Isaac Paige Chairman Pleased as Stocks Rally on Good News for Banks
Wall Street rallies after a day of good news and the Dow logs its biggest 3-day gain since November.
Seattle, WA, March 16, 2009 --(PR.com)-- Investors have been clamoring for months for a bit of good news. On Thursday, they got a load of it.
The Dow Jones industrials shot up 240 points to a two-week high of 7,170, bringing its gains over the past three days to 622 points, or 9.5 percent. It was the index's biggest three-day jump since last November.
Surprisingly positive signals this week from companies across all industries, particularly banks, have made traders think twice about continuing to drive stocks lower. “It's too soon to tell whether this week's upturn is the beginning of a bull market or simply a temporary rally within a bear market, but either way there has been a pronounced change in Wall Street's tone.” Said Isaac Paige Associates Chairman, Peter Matthews.
"How all this turned around in a week, I don't know," Matthews said "but it's certainly a better outlook than how it looked two weeks ago."
The rally got an extra dose of adrenaline Thursday after an accounting board told Congress it may recommend an easing in financial reporting rules of tough-to-sell assets -- a change that banks say would help their bottom lines. Upheaval in the banking industry has been dogging the market since 2007, and hope that banks might finally get relief in how they value their bad assets spurred a flurry of buying on Wall Street.
Matthews finished his speech by saying "We might find that the banks are not as bad, or not bad at all, if these assets are marked differently.”
Isaac Paige Associates is highly respected within the financial community and has been providing accurate evaluations for over a decade. Isaac Paige Associates principals are actively involved in all aspects of the mergers & acquisitions evaluation process. Isaac Paige Associates provides responsive and personalized service to Institutions throughout the merger or acquisition including participation in syndication meetings to facilitate the decisions of the participating parties.
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The Dow Jones industrials shot up 240 points to a two-week high of 7,170, bringing its gains over the past three days to 622 points, or 9.5 percent. It was the index's biggest three-day jump since last November.
Surprisingly positive signals this week from companies across all industries, particularly banks, have made traders think twice about continuing to drive stocks lower. “It's too soon to tell whether this week's upturn is the beginning of a bull market or simply a temporary rally within a bear market, but either way there has been a pronounced change in Wall Street's tone.” Said Isaac Paige Associates Chairman, Peter Matthews.
"How all this turned around in a week, I don't know," Matthews said "but it's certainly a better outlook than how it looked two weeks ago."
The rally got an extra dose of adrenaline Thursday after an accounting board told Congress it may recommend an easing in financial reporting rules of tough-to-sell assets -- a change that banks say would help their bottom lines. Upheaval in the banking industry has been dogging the market since 2007, and hope that banks might finally get relief in how they value their bad assets spurred a flurry of buying on Wall Street.
Matthews finished his speech by saying "We might find that the banks are not as bad, or not bad at all, if these assets are marked differently.”
Isaac Paige Associates is highly respected within the financial community and has been providing accurate evaluations for over a decade. Isaac Paige Associates principals are actively involved in all aspects of the mergers & acquisitions evaluation process. Isaac Paige Associates provides responsive and personalized service to Institutions throughout the merger or acquisition including participation in syndication meetings to facilitate the decisions of the participating parties.
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Contact
Isaac Paige Associates
Peter Matthews
1-206-984-1692
www.isaacpaige.com
Peter Matthews
1-206-984-1692
www.isaacpaige.com
Contact
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