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Financial stocks - banks, brokers, asset managers - led the stock market down earlier this year, and almost left the stage as many shares sank into single digits. In recent weeks, however, the group has reversed course, rallying strongly, and even led the market to a robust gain on Monday, with the Dow rising 235 points. So is this the sign of a true financial-stock recovery, or a seductive bear trap? TIME contributing editor John Curran caught up with Oppenheimer & Co. chief investment strategist Brian Belski, who was in Tel Aviv on Monday, to get his view on banks...
...tankers and huge cargo vessels [No Surrender to Thugs, April 27]. The crews of these vessels must be properly equipped and allowed to take the appropriate measures to see off the pirates, or the current ludicrous situation will become a complete farce. As it stands, the pirates stand to gain huge amounts of money in ransom payments, but there is very little downside to their operations, so the piracy is only going to spread. Vincent Bristow, KNYSNA, SOUTH AFRICA...
Having written his first musical at 15, under the tutelage of Oscar Hammerstein, Sondheim is frequently cast as the last of the genre's greats. But far from being a relic from a golden age, his work continues to gain new audiences and interpretations. This season saw major revivals of A Little Night Music in London and West Side Story on Broadway - where there's been at least one Sondheim show playing annually for the past five years. Add in smaller venues, there are hundreds - even thousands - of revivals of his shows in any given year...
India's benchmark stock index on Monday surged a stunning 17%, a record one-day gain powered by investor euphoria over a resounding victory in nationwide elections by Prime Minister Manmohan Singh's Congress Party...
...After losing 52.5% in 2008, the Sensex has recently been rebounding and is now up 76% since March 9 after today's gain. Institutional investors, who pulled $13 billion out of India last year, are piling back in and drove almost all of the trading on Monday, analysts say. The jury is still out on whether retail investors, who have been sitting on cash for the past 18 months, will now make a beeline for the markets. "I'd prefer them to sit by the sidelines for a while as the rally has been so fast and furious," says Shankar...