US consumer sentiment rose in April 2009

Trading in US index futures showed the Dow could rise 50 points at the opening bell on Monday, 4 May 2009. US stocks gained on Friday, 1 May 2009 after better-than-expected reports on consumer confidence and manufacturing. The Dow Jones Industrial Average gained 44.29 points, or 0.54%, to 8,212.41. The Standard & Poor's 500 Index rose 4.71 points, or 0.54%, to 877.52 and the Nasdaq Composite index rose 1.90 points, or 0.11%, to 1,719.20. 

US consumer sentiment rose in April 2009, according to a survey released on Friday. The consumer sentiment index rose to 65.1 in April 2009 from 57.3 in March 2009. 

Another data showed that the pace of decline in the US manufacturing sector slowed in April 2009. The closely watched ISM purchasing managers' index rose to 40.1% in April 2009 from 36.3% in March 2009. It was the highest reading since September 2008, when the global financial crisis intensified. 

Bank of America and Citigroup are working on plan to raise more than $10 billion each in capital after preliminary findings of the US stress test on banks, according to media reports. However, the two banks as well as two other lenders, will attempt to persuade the Treasury and the Federal Reserve that the findings of the stress tests into their financial health were too pessimistic, the Financial Times reported on Monday, citing people close to the
situation. 

The results of the government's Supervisory Capital Assessment Program, otherwise known as the "stress test," imposed on 19 major banks will be released Thursday,7 May 2009. The Federal Reserve has already said that most US banking organizations had enough capital.