Stocks Ascend on World Bank Forecast (Bloomberg)
The S&P 500 rose to erase losses incurred at the start of 2014, thanks to a bank rally and an increase in the World Bank’s global growth forecast. “It’s a true, cyclical, macro upswing that’s broad-based,” Jerry Braakman, chief investment officer of First American Trust in Santa Ana, California, said. “People who have reported have posted really solid numbers, specifically yesterday’s JPMorgan and today with BofA. Just tells us that when the banks are doing well, the economy is going well.”
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