Word: recentered
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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...
...stocks showing such strength? We've seen unprecedented liquidity being put to work in the U.S. on behalf of financials, so it was only going to be a matter of time before banks started to rise. Also, many investors have been so focused on the short term - all the recent steps taken by the Federal Reserve and the Treasury - that they have forgotten that the bank assist started in August of 2007 when the Fed cut the discount rate and opened the lending window to a wider list of financial companies. So this has been going on for a little...
...mask gap stands in stark contrast to what other nations have on hand: the U.S. has one mask for every three Americans (masks are not supposed to be shared), while Australia has 2.5 masks per resident and Great Britain boasts six. "With the recent outbreak of the novel H1N1 influenza virus," warned Representative Kay Granger, a Texas Republican, "it has become clear that we need to purchase more medical supplies and replenish the Strategic National Stockpile." (Read "How to Prepare for a Pandemic...
Meanwhile, as the H1N1 virus continues its rapid spread around the world - as of May 18, 40 countries had officially reported 8,829 cases, including 74 deaths - nervous customers have been snapping up face masks in the U.S. Prestige Ameritech's sales have doubled in recent weeks, forcing the company to maintain a seven-days-a-week production schedule to keep up with demand. Even though Prestige Ameritech is a wholesaler that sells its products to retailers, such as 3M, there have been so many people trying to buy masks directly from the Prestige factory in suburban Fort Worth that...
...Authorities in East Asia - which has suffered heavily in recent years from outbreaks of various infectious diseases - have clamped down early and quickly on suspected cases of swine flu. Just over a week ago, Hong Kong released some 300 people stuck at a business hotel after cooping them up in a weeklong quarantine when one guest was found to be carrying the virus. The city, one of Asia's busiest business and travel hubs, was ravaged by the 2003 SARS epidemic as well as subsequent scares over avian flu. As a consequence, its counterpandemic procedures are among the most draconian...