Citigroup earning profit

Surprising news regarding Citigroup earning report. $8.3 billion in profit is projected for the 1st quarter of 2009. This pushes the stock market to the biggest one day rally in 2009. Dow Jones Industrial Average increased by 380 points.

 

Despite the good news, the market is expected to continue to drop due to the unchanged negative sentiment.

"To have a sustained rally, we have to have a shift in sentiment," said Kurt Karl, chief U.S. economist at Swiss Re. "One day isn't going to make a trend."

Complete news can be found here http://biz.yahoo.com/ap/090310/wall_street.html