All economic data have showed recently improving signs on diverse sectors throughout global economies, but specifically the U.S economy, whereas investors' confidence witnessed a big boost by March as profits emerged from financial institutions and worldwide major companies about their performance during the first quarter of 2009.

This week confidence surged in the banking sector even as news leaked that almost ten out of the major 19th banks in the United States will need to boost their capital in order to surpass the ongoing recession.

Citigroup, Bank of America and even Wells Fargo & CO were among those ten banks that were said they needed the extra cash, whereas all those banks executives reacted fast to the news and objected on the finding of the Stress Test results, even though the official results are not to be released till Thursday, banks have gone back to regulators to discuss prober means to change or alter the finding.

Economic activity has been recovering slightly ever since earning started to show in March, the Fed's even confirmed investor's beliefs of near ending for this global financial epidemic as the Federal Reserve Chairman Ben S. Bernanke testified today about the Feds' economic outlook for the upcoming period, where he said that the economy should recover by late this year.

Bernanke also noted that the housing sector in the world leading economy has shown sings of bottoming and currently in the process or rebounding back up, while noting that inflation will most probably be lower than the previous year.

The Fed's Chairman noted that any relapse in the credit crisis could delay economic recovery where it most probably could send economy down the drain further, but the Fed expects economic recovery by late 2009 if stability validates throughout the second quarter of this year.

Bernanke also noted that the Federal reserve is closely monitoring economic activity and continue to provide further programs to ease the tightened credit conditions, while keeping interest rates to their historic lows among 0.0% and 0.25% in addition to Quantitative easing which the Fed's passed earlier

On fundamentals released today, the ISM Non-Manufacturing composite inclined 43.7 from the previous 40.8, while markets were expecting a 42.2 incline, the index rose after data showed improvement throughout April thus igniting optimism about the future of the U.S economy.

The report also showed that business activity inclined last month from the 44.1 to 45.2, and prices paid also inclined from the previous 39.1 to 40.0, in addition new orders jumped from March figures of 38.8 to reach 47.0 by April, while Inventory change inclined three figures from 40.0 to 43.0, finally employment inclined to 37.0 in April compared with March 32.3.

Despite the encouraging news released today, investors' fear from the period the economy will take to recover forced them to recap their pessimism outlook which was reflected directly on the stock market, the DJIA shed 30.59 points as it declined 0.36% to reach 8396.15, while the S&P 500 index lost 7.16 points as it declined 0.79% to reach 900.08, finally the NASDAQ Composite declined 20.32 points or 1.15% to reach 1743.24, the data was updated at 10:44 EST.