|Bid||50.45 x 700|
|Ask||50.46 x 900|
|Day's Range||50.17 - 50.60|
|52 Week Range||39.60 - 50.71|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
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?
Chris Verrone, Strategas Research Partners, discusses why to buy the dip in banks after earnings. The “Fast Money” traders weigh in.
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.
The overall market isn't doing great today--the SPDR S&P 500 ETF (SPY) is little changed at $258.59 at 12:04 p.m.--but banks and financials are getting hit as investors fret about the future of tax reform, and a narrowing yield curve. The Financial Select Sector SPDR ETF (XLF) has declined 0.5% to $26.24, while the SPDR S&P Bank ETF (KBE) has fallen 0.9% to $44.10, as Bank of America (BAC) has slumped 1.8% to $26.28, Wells Fargo (WFC) has dropped 1,4% to $54.28, and JPMorgan Chase (JPM) has slipped 1% to $97.77. While some have blamed a narrowing yield curve--that is, the difference between short- and long-term Treasuries--we're putting our money on hiccups in tax reform.
If you invest in financials, you could have hardly asked for a better quarter than the third quarter. As Jefferies' Sean Darby and his team write, asset prices rose, the market got its wish in terms of ...
Earnings season technically got underway last week with 17 of the S&P 500 constituent companies reporting.
The legislative move has led to the return of Trump trade and investors are cashing in on the opportunity with ETFs that are deemed to gain most on tax reforms.
On a strong day for stocks, Micron reported a big quarter and Nike beat expectations but gave an uninspiring outlook for its domestic business.
Financial services stocks and exchange traded funds rose last week after the Federal Reserve said it will gradually begin unwinding its balance sheet and fixed income traders priced in increasing odds ...