US market hits four year high

The Dow Jones soared to its highest level since December 2007 yesterday, despite the news four banks had failed stress tests.

Markets were boosted by the Federal Reserve using its strongest language to date to acknowledge the US economy is on the mend. It was also announced that 15 of the 19 banks recently tested had enough capital to survive a deep recession and global financial shock. Banks failing this test were Citi, SunTrust, Ally Financial and MetLife. The positive news for the majority of banks helped push the Dow Jones Industrial Average up 1.7% to 13,177.68, a level last seen in December 2007. Meanwhile, the Nasdaq strengthened 1.9% to 3,039.88 - the highest it has been since 2000 and the S&P 500...