Strong Comeback

After a sharp fall, U.S stocks rebounded on Tuesday rising more than two percent on a sharp slide in oil prices. Data showed that the rate of monthly price declines in the U.S housing market is gradually slowing down and a separate report showed that the mood of the American consumers improved drastically for the first time in six months in July this year. U.S crude prices dropped more than 2percent by relieving concern about inflation and consumer spending and brightening the outlook for a wide range of companies including retailers and airlines. After the share sale, sentiment on financial stocks began to shift with investors saying that Merrill’s latest write-down might be a sign that banks are nearly through purging their balance sheets of bad mortgage debt. Experts say that there is always the hope that this might be the last big financial blowup and some people think that U.S might be getting towards the end in terms of large write-downs.