|Bid||0.00 x 3000|
|Ask||0.00 x 4000|
|Day's Range||28.22 - 28.51|
|52 Week Range||23.79 - 30.33|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
The S&P 500 hits a new all time high on the same day the market ties a record for the longest bull market—ever.
Wall Street seems bullish on the entire banking industry. The majority of analysts rate the largest US banks as a “buy.” Strong quarterly results, rising interest rates, an improving economy, a low unemployment rate, the tax overhaul, and an expected ease in regulations have made analysts bullish about the industry.
MARKET PULSE Shares of discount brokers slumped in premarket trade Tuesday, after a report that J.P. Morgan Chase & Co. (jpm) was taking aim with a plan to launch a new digital brokerage service that comes with free trades.
Things aren’t going to script right now in the financial sector. It’s a widely established fact (based on years of historical evidence) that banks and other lenders typically prosper when interest rates are rising.
Investing in Citigroup Stock: Do Investors Think It Makes Sense? In late June, Citigroup (C) increased its dividend rate to $0.45 from $0.32 and initiated a share repurchase program worth $17.6 billion. In 2017, it returned $17.1 billion to its shareholders through dividend payments and share buybacks.
Citigroup’s (C) balance sheet has been growing at a faster pace in recent quarters. Its total assets increased 3% YoY (year-over-year) to ~$1.9 trillion at the end of the second quarter of 2018. It was mainly helped by higher deposits, new assets, increased lending, rate spreads, and broking assets. However, the disposal of some legacy assets and share repurchases partially offset the growth.
To help investors keep up with the markets, we present our ETF Scorecard. The Scorecard takes a step back and looks at how various asset classes across the globe are performing. The weekly performance is from last Thursday’s open to this week’s Wednesday close.
Investing in Citigroup Stock: Do Investors Think It Makes Sense? The entire banking industry (XLF) was beaten down in the first half of 2018. Citigroup (C) was among the worst performers in the industry, losing ~10% of its value in that period.
The Dow Jones Industrial Average enjoyed its best day in about four months as a rally in shares of retailing giant Walmart Inc. (WMT) and an apparent easing of China-U.S. trade tensions helped to support a broad rally on Wall Street. The Dow (DJIA) gained about 400 points, or 1.6%, at 25,559, registering its best one-session rise since April 10, the S&P 500 index (SPX) rose about 22 points, or 0.8%, at 2,840.
The Fed’s latest findings stated that the banks that have passed the test are properly capitalized to face a financial crisis. The Fed added that cumulatively, the 35 banks had built an extra over $800 billion in Tier 1 capital since 2009. With this, the banks that cleared the test were allowed to enhance their capital return policies, which is anticipated to be higher than last year.
Since the Great Recession of 2007–2009, the Federal Reserve has kept its federal funds rate near zero. The central bank raised interest rates to 0.25% from 0.0% in December 2015, the first time since the Great Recession officially ended in mid-2009. Since 2015, the Fed has raised interest rates seven times with one hike each in 2015 and 2016, three in 2017, and two in 2018.