50.35 0.00 (0.00%)
After hours: 6:51PM EST
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||49.64 - 50.36|
|52 Week Range||39.60 - 51.58|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
Exchange-traded funds that track the banking sector surged on Wednesday, after minutes from the Federal Reserve's most recent meeting pointed to higher odds for more rate hikes going forward. The SPDR ...
On a day of strong gains for the market benchmarks, Fossil exceeded fourth-quarter earnings expectations, and Chipotle announced its new CEO.
See, bank stocks actually outperformed during the correction that started after the S&P 500 hit an all-time high on Jan. 26. The S&P 500 fell 10.2% through the close on Feb. 8, while banks dropped 8.9%, according to Strategas Research Partners' Chris Verrone. If you were trading ETFs, you did even better this time around, as the SPDR S&P 500 ETF (SPY) dropped 10.1% to the SPDR S&P Bank ETF's (KBE) 7.2% decline.
Banks had a strong end to 2017: Financials got a boost from the passage of the tax bill, leading many analysts to forecast strong returns and blue skies ahead for banks, both big global operators and smaller regional ones. Analyst Piers Brown and his team take a look at the sector today, writing that, as with so many industries, financial companies’ fourth-quarter reports will be filled with changes and one-time items as a result of the U.S. tax overhaul. Brown writes that while it was a relatively uninspiring end to 2017 (aside from the passage of the tax bill), he believes management commentary and outlook will drive the stocks as banks begin to report earnings, especially as growing global growth and certainty around taxes help capital markets.
After negotiating on two versions of the bill already passed by the House and Senate, Republicans unveiled their final tax bill — which would reshape the tax code in three decades, making America more competitive. The Congress will vote on the legislation on Tuesday and sent it to President Donald Trump for his signature by the end of the year.Source: Shutterstock
The Federal Open Market Committee surprised absolutely nobody by raising its federal funds rate target 25 basis points (one-quarter percentage point), to 1.25%-1.50%. Treasury yields fell in the face of the as-expected FOMC decision with the dollar dipping in tandem. The two-year note, the coupon maturity most sensitive to Fed policy expectations, fell four basis points in yield from the 2 PM EST release of the Fed decision, to 1.778% by late after noon.
Stocks held modest gains Monday as Apple and Disney led the Dow, and Bitcoin's price leapt following a futures launch.
As much of the equity market marches to new highs on Monday, I'm keeping an eye on two groups of stocks specifically — energy and banks.
Stocks ended lower Friday on news that former security advisor Michael Flynn will testify that President Trump's team directed him to contact the Russians..
A flattening yield curve makes it awfully tough for U.S. banks to make money through traditional banking means.
CNBC Contributor Evan Newmark; CNBC's Mike Santoli; and John Buckingham, The Prudent Speculator, discuss the market's wild ride and the impact of Michael Flynn's guilty plea.
Dennis Berman, The Wall Street Journal; CNBC Contributor Evan Newmark, and CNBC's Mike Santoli, take a look at the sectors that have performed well and those that haven't. How will the tax bill impact the tech sector?