Relief after big firms pass earnings test

The relief is palpable on Wall Street after the big four stunned analysts with strong earnings. Goldman is up more than 10 percent. Morgan Stanley and Lehman Brothers have also staged mini-rallies. The big question is whether this is merely a relief rally. Looking ahead, the picture remains a bit cloudy. You still have to wonder how long all this can last. One view is that ROE for top investment banks has no place to go but down. That will put downward pressure on price-to-book values. Still, these guys have been surprising the Street for some time now, even as they head toward 52-week highs.

For more on the industry:
- Here's an article from The Street.com