Another Up Day on Wall Street

NEW YORK, NY -- In stark contrast to an article from this reporter only a few days ago (April 15, 2005 to be exact), Wall Street had its best day in almost 2 years, being the Dow's largest one-day gain since April 2, 2003. Not a few traders stopped biting their nails, and some even stopped lining up to jump from the nation's tallest buildings.

However, more than a few market watchers were suggesting to just wait and see what tomorrow holds. "Things could still go south", said one analyst. "The market is sort of an up and down kinda thingy".

History would suggest however, that the Stock Market has never been down in any given 20-year period, which bodes well for the investor who is willing to stay in the Market for the long term. This is one of the foundational reasons for President George Bush's determination to see Social Security reform which would allow private accounts for individuals to invest Social Security funds into the Stock Market.

In other news, Nokia's earnings per share were 0.19 euros in the first three months of 2005, or 27% above analysts expectations. Also, Motorola's earnings increased nearly 50% over the past year. And the number of Americans filing new claims for unemployment benefits plunged by 36,000 last week, the biggest drop in more than three years.

Some accountants continue to be fearful that tax write-offs for capital losses may be down this year.