|Bid||47.30 x 400|
|Ask||47.31 x 1500|
|Day's Range||46.66 - 47.43|
|52 Week Range||39.60 - 48.95|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
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 ...
On the day that traders returned from the long Labor Day weekend, several indexes tracking bank stocks broke down. It seemed to be the last straw in a banking sector that was already lagging. Indeed, the stock market rallied most of the year without any help from banks at all.
Nearly eight years to the day after Lehman Brothers collapsed and set fire to the financial world, analyst Mike Mayo said the industry has rebounded.
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.