Wednesday, May 6, 2009

Getting Ready for the Stress Test Result

The result of the 'stress test' conducted by the government to determine which among the 19 US financial firms need to raise more capital will be released tomorrow; however, media reports have hinted that things are not as bad as what investors have feared. The 19 companies that were tested are: JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, Bank of New York Mellon Corp., GMAC LLC, SunTrust Banks Inc., State Street Corp., Capital One Financial Corp., BB&T Corp., Regions Financial Corp., American Express Co., Fifth Third Bancorp and KeyCorp. I have a few shares with Citigroup (C) so I'm really anxious to know how it's going to perform tomorrow at the stock market. Financial analysts are expecting the government to ask Citigroup and a few other banks to raise more capital. After a 4-day rally, I hate to lose money tomorrow with Citigroup. It will be a thrilling day tomorrow for all investors.

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