A 300 point jump in the Dow today raised hopes among investors but experts say caution is still warranted. Financial companies showed improvement for the first time in weeks, after Citigroup Inc. announced that its first two months of the year were profitable. How `bout that?
According to Yahoo news, “All the major indexes soared more than 4 percent, and the Jones industrials at times shot up more than 300 points, putting the index on pace for its biggest gain of the year. “
Citi Chief Executive/Chump Vikram Pandit (Yes, it rhymes with “BANDIT!”) said the performance so far this year has been the bank’s best since the third quarter of 2007 — the last time it recorded net income for a full period.
Just 7,000 or so more points and we’ll be back where we were back in 2007! Think you’ll still covet that Hummer you passed up?