226987 Resource 133529 120646 120646 1235407800483 1235407800483 Controlled Bank Rally Trumped by Tech Retreat Bank nationalization news wears out its welcome <font size="2"><span style="font-family: verdana,arial,helvetica,sans-serif;">When rumours of <a href="http://forex.gftforex.com/public/item/226980" target="_blank" title="bank nationalization, Citi, Bank of America, U.S. stock market, spread bets, CFDs, spread betting, contracts for differences, bank rally, tech stocks">bank nationalization</a> in the U.S. -- combined with a joint statement by U.S. government agencies promising to <span style="font-weight: bold;">buoy up banks</span> -- hit the newswires earlier today, a<a href="http://www.marketwatch.com/news/story/story.aspx?guid={D311CF92-88D3-4CBA-A27D-EFEC68D97D99}&siteid=rss" target="_blank" title="bank nationalization, Citi, Bank of America, U.S. stock market, spread bets, CFDs, spread betting, contracts for differences, bank rally, tech stocks"> bank rally </a>sent the U.S. stock market higher.</span><br style="font-family: verdana,arial,helvetica,sans-serif;" /><br style="font-family: verdana,arial,helvetica,sans-serif;" /><span style="font-family: verdana,arial,helvetica,sans-serif;">Now, though, <span style="font-weight: bold;">spread bets </span>and CFDs should consider that the euphoria over the bank rally is fading and that a<a href="http://www.bloomberg.com/apps/news?pid=20601084&sid=ahM.mqMJoF3Y&refer=stocks" target="_blank" title="bank nationalization, Citi, Bank of America, U.S. stock market, spread bets, CFDs, spread betting, contracts for differences, bank rally, tech stocks"> retreat in tech stocks</a> is erasing gains made earlier.</span><br style="font-family: verdana,arial,helvetica,sans-serif;" /><br style="font-family: verdana,arial,helvetica,sans-serif;" /><span style="font-family: verdana,arial,helvetica,sans-serif;">Indeed, concerns about the ongoing <span style="font-weight: bold;">recession</span> are putting focus back on possible earnings for companies, and not keeping things focused on the news that the U.S. government has pledged to basically do anything it takes to support the ailing <span style="font-weight: bold;">banking system</span>.</span></font><br /> 9 application/xml false bank nationalization Bank of America bank rally CFDs Citi contracts for differences spread bets spread betting tech stocks U.S. stock market Summary of U.S. Government Statement on Banking System Treasury, Fed, FDIC and others issue joint statement http://www.stockmarketfunding.com/SMF-Blogs/Economic-Analysis/February-2009/Details-of-joint-statement-by-the-Treasury,-FDIC,-.aspx Spread Bets on U.S. Stocks Spread betting on the stock market http://www.gftuk.com/land/index.asp?aid=53 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10.5; en-US; rv:1.9.0.6) Gecko/2009011912 Firefox/3.0.6 127.0.0.1 127.0.0.1 mmarquit 66.182.66.2 false true false false true 133529 blog blogsite/GFTUK/web