US bank Wells Fargo & Company forecast a record profit last week, South Korea steered clear of recession, and Chinese export data beat expectations, all offering hope that the worst of the financial crisis had passed. Encouraging data on US trade and jobless claims helped Wall Street stocks end up for a fifth week on Thursday, while White House economic adviser Lawrence Summers predicted the economy would emerge from a sense of “freefall” in months as stimulus and rescue efforts took effect.
Popularity: 5% [?]
