From Sanghamitra Saha: U.S. banking biggies have cleared the key Stress Test conducted by the Federal Reserve, barring the U.S. division of Credit Suisse. Regulators allowed a majority of the 18 institutions to raise dividends and buy back shares.
From Keris Lahiff: Financials are surging for the second day in a row, coming back from their deep May sell-off.
From Fred Imbert: Stocks rose on Thursday as sentiment was boosted by strong earnings from Walmart and Cisco Systems while banks climbed on higher rates.
From CNBC.com: Consumer discretionary was the second-best performing sector through the first four months of the year with a return of about 22 percent.
From Lizzy Gurdus: The banks are back.
From Mark Kolakowski:
From Felice Maranz: (Bloomberg) — Big banks extended losses into a fourth day Friday, as 10-year Treasury yields tumbled, the 3-month/10-year yield curve inverted for the first time since 2007, U.S. manufacturing data missed expectations and Europe’s economic outlook darkened.
From Brian Sozzi: Jerome Powell’s Federal Reserve has long pivoted back to being super dovish. The 10-year yield has dived to about 2.6%. And markets have since been lulled into seemingly churning upward each day to reach the fall 2018 highs, absent the daily swings that traders at the investment banks crave. Hey, they have to […]
From Matthew Cochrane: The financial sector of the stock market is made up of companies that provide a variety of financial services to commercial and consumer customers, including:
From Lou Carlozo: Not only can you buy shares on Wall Street: You can literally buy shares in Wall Street, as the financial sector boasts some heavy hitters so far as dividend stocks go.
From Todd Shriber: Financial services, one of 2018’s worst-performing sectors, is looking to shed that laggard status this year. The group is off to a good start, as highlighted by the Financial Select Sector SPDR XLF 0.06%, which is up 9.15 percent year-to-date.
From Brian Cheung: The large-cap banks will kick off the first earnings season of 2019 next week, and their biggest challenge will be fending off concerns about a looming recession.
From John Melloy: Treasury Secretary Steven Mnuchin spoke with J.P. Morgan Chase CEO Jamie Dimon, Bank of America’s Brian Moynihan, Goldman Sachs’ David Solomon, Morgan Stanley’s James Gorman, Tim Sloan of Wells Fargo and Michael Corbat of Citigroup.
From Ben Hernandez: “There’s a lot of nuance in the decision. I think what’s pretty clear from the statement is Powell is not poised to turn sharply dovish,” said Brian Dangerfield, macro strategist at NatWest Markets. “The Fed is going to be data dependent, but the data on which they are depending has not slowed […]
From Hugh Son: