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Regulators have determined that Bank of America Corp. requires about $34 billion in new capital, the largest need among the 19 biggest U.S. banks subjected to stress tests, according to a person familiar with the matter.
Bank of America Said to Need About $34 Billion in New Capital

More than half of the giant banks being "stress-tested" by the US government could be required to raise additional money to recapitalise the nation's financial system, survive a long recession and boost lending that will kickstart the economy.
US banking giants face demands to bolster capital cushions

Ben Bernanke, the Federal Reserve chairman, today forecast that the US, the world's biggest economy, would pull out of its recession later this year.
US will begin recovery this year, says Fed chief

Federal Reserve chairman Ben Bernanke told Congress Tuesday morning that the economy is likely to pull out of the recession and start growing later this year. This in itself isn't newsBernanke has been saying the same thing for months. What's news is that people are starting to believe him.
Why the Economic Recovery May Be Disappointing

Wall Street's number crunchers are happy. Stock technicians, who use mathematical formulas as well as charts and historical data to figure out where share prices are headed, believe the market's rally that started in early March, and has pushed stocks up 36% in less than two months, is here to stay.
Stock Technicians' Verdict: The Market Rally Will Continue

The Nationwide Consumer Confidence Index rose by eight points to 50 in April, the largest single monthly rise for nearly two years.
Consumer confidence is at its highest for two years

The basic rate of income tax will have to rise by between 8p and 10p in the pound if Britain's public finances are to return to balance in the timescale outlined by the Chancellor in his Budget, a leading think-tank says today.
Basic-rate tax will have to rise by 8p to get UK out of red

The scrap value of an old car has shot up by 20 per cent since January, offering a glimmer of light from the real economy to echo the green shoots in surveys of sentiment. Scrap metal prices dropped through the floor last autumn as the worldwide recession sent the global steel industry into hasty reverse. The value of a car shell plummeted to just 40, compared with the record high of 250 earlier in the year.
Scrap prices up 20% are sign of life for steel

The Securities and Exchange Commission brought its first-ever case alleging insider trading in credit-default swaps -- an opaque derivative investment at the heart of the recent carnage in the financial industry.
Case Opens New Front on Insider Trading

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

Japan is closed today.

ADN UBS: upgraded to buy from neutral
BARC ING: upgraded to hold from sell, tp raised to 260 from 150
BP. Bernstein: market perform: tp cut to 489 from 512
EMG Jeffries: downgraded to hold from buy
HOME UBS: upgraded to buy from neutral
HSBA JPMorgan: upgraded to neutral from underweight, tp raised to 450 from 360
ITRK UBS: upgraded to buy from neutral
JDW Investec: upgraded to buy from hold, tp reiterated 565
LLOY ING: hold, tp cut to 105 from 180
MSY BofA: upgraded to buy from neutral
PFD Morgan Stanley: initiated overweight
RDSB Bernstein: market perform: tp cut to 1777 from 1803
RBS ING: upgraded to hold from sell, tp cut to 40 from 50
SGE BofA: downgraded to neutral from buy
SGE Panmure: buy, tp 194

Yesterday's share for the " UPS " SEY is moving well ahead after volume of 33M
today is 25M traded so far

End-of-day Market Overview