The Week Ends With Good Friday And Good Economic News

A string of good economic news ended the week on Good Friday. As we have stated before good news equals good economy.

Washington (CNN)- The struggling U.S. economy may be starting to turn the corner, President Obama said Friday, citing several key indicators during a meeting with top economic advisers.

Obama said at the White House the administration is detecting "glimmers of hope across the economy." Specifically mentioning a significant increase in mortgage refinancing as homeowners seek to take advantage of low interest rates. He also mentioned, among other things, progress in spurring lending to small businesses and the mailing of stimulus tax cut checks in April. Also participating in the session were Treasury Secretary Timothy Geithner and top economic adviser Larry Summers, and Federal Reserve Chairman Ben Bernake.

"We're starting to see progress," Obama said. "And if we stick with it, if we don't flinch in the face of some difficulties, then I feel absolutely convinced that we are going to get this economy back on track."

The icing on the cake is the stock market up for a forth week. With the banking sectors own piece of good news.

New York (CNNMoney.com)- Wells Fargo delivered a bit of good news for the banking sector Thursday, saying it expected to book a better than expected profit of approximately $3 billion in the most recent quarter.

Wells Fargo shares soared on the news, climbing nearly 32% in early market trading on Thursday.

Originally slated to deliver its results later this month, the San Francisco based banking giant issued guidance for the first quarter, saying it expected to report net income of about $3 billion, or 55 cents per common share. That is well ahead of analysts' consensus estimates for a profit of 28 cents a share, according to Thomson Reuters.

Also, banks are beginning to pay back their borrowed TARP funds.

Washington (AP)- A New Jersey bank has become the sixth bank to repay emergency assistance it received from the federal government.

The Treasury Department said Friday that Sun Bancorp Inc. of Vineland, N.J., repaid $89.3 million, money it originally received on Jan. 9.

The decision by the New Jersey bank followed actions by five others earlier this month. The amount of support payments returned so far total $442.3 million. The two largest individual payback were made by Signature Bank of New York which returned $120 million and Old National Bancorp of Evansville, Ind., which returned $100 million. Both of those repayments were made on March 31.

This great news. Let's get rid of all that doom and gloom in the media and replace it with positive economy booming news.