CNBC.com's News Now: Stocks Jump 2% as Banks Get Stress Relief

Click here to view today's newsletter on your mobile device. Friday, May. 08, 2009     DOW 8574.65 164.80 +1.96%   NASDAQ 1739.0 22.76 +1.33%   S&P 929.23 21.84 +2.41%       NEWS MARKETS EARNINGS INVESTING VIDEO CNBC TV CNBC PLUS     WHAT YOU SHOULD KNOW Big US Banks May Be Headed For Extinction—And Soon In the world of banking, too-big-to-fail may be in the process of morphing into too-big-to-exist... »read more AT&T Near $2.5 Billion Deal to Buy Most Alltel Assets AT&T is reportedly near a deal to buy most of Verizon's Alltel divestitures for $2.5 billion, CNBC has learned from sources close to the situation.... »read more Stocks Jump 2% as Banks Get Stress Relief Stocks rallied Friday as Wall Street breathed a sigh of relief after the stress-test results and banks soared.... »read more The Week & You CNBC's Courtney Reagan discusses the week's top business, economic and investment stories.... »Play video TODAY'S TOP 5 VIDEOS 1. Stress & Banking, with Ken Lewis   The government's assessment is aggressive but Bank of America will raise the equity needed, says Kenneth Lewis, Bank of America CEO. 2. Wells Offering, Et Al   The bank is pricing common shares today to raise new equity, with Howard Atkins, Wells Fargo CFO. 3. Bond King On Banks…& Jobs   Weighing in on what the bank stress tests and the jobs numbers indicate for the economy and markets, with Bill Gross, Pimco founder/co-chief investment officer 4. Obama: Jobs & Training   The government will take new steps to offer training and education programs and change the traditional approach to unemployment, says President Barack Obama. 5. Stop Trading, Listen to Cramer!   Mad Money's Jim Cramer shares his stock picks and pans with CNBC's Erin Burnett.       TODAY'S TOP BLOG   Jobs Numbers: Breakdown by Sector The latest overall job loss numbers showed a loss of 539,000 jobs in April and the unemployment rate climbed to 8.9%. While still a high number, this is the smallest drop since October of last year. The March numbers were revised to a loss of 699,000 and the February numbers were revised to a loss of 681,000. 5.7 million jobs have now been lost since this recession began. In the 2001 recession, monthly losses hit a high of 325,000.»read more »See All CNBC.com Blogs     FIRST IN BUSINESS WORLDWIDE     (c)2009 CNBC Inc. All Rights Reserved 900 Sylvan Englewood Cliffs, NJ 07632

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