|Bid||27.34 x 800|
|Ask||27.37 x 308700|
|Day's Range||26.93 - 27.46|
|52 Week Range||22.05 - 29.07|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.11|
|Expense Ratio (net)||0.13%|
A new survey from the Business Roundtable finds that optimism among executives has dropped for the fifth quarter in a row. Yahoo Finance's Jessica Smith and Nationwide Chief Economist, David Berson, join Seana Smith to discuss how trade uncertainty is impacting CEO economic outlook.
President Trump defending his decision to threaten Mexico with tariffs, saying that's what got the deal done. Yahoo Finance's Seana Smith and former trade representative under George H. W. Bush, Carla Hills discuss.
The number of cash machines around the world fell 1% to 3.24 million last year, according to Banking Consultant RBR.Dan Howley, Melody Hahm and Dan Roberts join Seana Smith on ‘The Ticker’ to discuss why cash is on the decline.
Higher education has led to increased student debt, according to the Wall Street Journal, which comes as the Senate Finance Committee heard testimony last week about lowering the retirement savings age to 16-years-old. Yahoo Finance's Zack Guzman and Brian Cheung are joined by Michelle McKinnon, Payne Capital Management Senior Financial Adviser, and Chris Carosa, “From Cradle To Retirement: The Child IRA” author, to discuss.
Shares of Fifth Third Bancorp rallied 2.2% in afternoon trading Tuesday, after Ohio-based bank said it was increasing its dividend by 9% and setting a new 100 million share repurchase program. The new quarterly dividend of 24 cents a share, up from 22 cents, will be payable July 15 to shareholders of record on June 28. Based on current stock prices, the new annual dividend rate implies a dividend yield of 3.48%, well above the yield for the SPDR S&P Financial Select Sector ETF of 1.92% and the implied yield for the S&P 500 of 1.97%, according to FactSet. The banker said the new share buyback program replaces the previous program that had 22 million shares remaining. The current program represents about 13.6% of the shares outstanding. The stock has rallied 17.2% year to date, while the financial ETF has climbed 14.9% and the S&P 500 has advanced 16.5%.
Shares of Bank of America Corp. gained 0.4% in premarket trading Tuesday, after a bullish call from BMO Capital analyst James Fotheringham, who said Street expectations and valuations "look too low." Fotheringham raised his rating to outperform, after being at market perform for at least the past three years, while keeping his price target at $37, which is 33% above Monday's stock closing price of $27.93. Fotheringham said about one-third of the potential upside to his price target is based on expected upward revisions of consensus earnings expectations, on the back of higher fees and share repurchases and lower tax rates. The remaining two-thirds of the potential gain is from an expected "rerating" of price-to-earnings valuations, given that the stock is currently trading at a 15% discount to average valuations that have historically been seen during benign economic conditions. He said even if the Federal Reserve lowers interest rates, an increase in consensus earnings expectations should more than offset any dilution to net interest margin. The FactSet 2019 EPS consensus of $2.85 is down from $2.90 at the end of March, but is up from $2.61 a year ago. The stock has lost 6.3% over the past three months, while the SPDR Financial Select Sector ETF has edged up 0.3% and the Dow Jones Industrial Average has gained 2.0%.
Shares of State Street Corp. slumped 0.4% in afternoon trade Wednesday toward a three-year low, extending losses after the financial services company warned that second-quarter net interest income (NII) would miss expectations given "the recent and significant turn in the interest rate environment." The stock had dropped 3.7% on Tuesday, after Chief Financial Officer Eric Aboaf said Tuesday at the Morgan Stanley U.S. Financials Conference that net interest income is now expected to be down about 8% from the first quarter, while the current FactSet NII consensus of $657 million implies a 2.4% sequential decline. Aboaf said the two main factors that are negatively impacting NII: a rotation into interest-bearing deposits from noninterest-bearing deposits, which has increased costs; and the flattening yield curve, particularly the decline in longer-term yields, has resulted in lower investment yield. The 10-year Treasury note yield has fallen to 2.121% on Wednesday from 2.686% at the end of 2018. UBS cut its stock price target to $68 from $75 while keeping its buy rating, while Raymond James lowered its target to $68 from $84 but maintained its strong buy rating. State Street's stock was on track to close at the lowest price since July 13, 2016. The stock has tumbled 20.5% the past three months and 13.1% year to date, to pace the SPDR Financial Select Sector ETF's decliners over both those time periods. The financial ETF has gained 3.0% the past three months and the S&P 500 has advanced 3.1%.
The results of the Federal Reserve’s Comprehensive Capital Analysis and Review, or CCAR, are soon to be released and that could mean higher dividends and increased share repurchases for a slew of domestic ...
Financial stocks enjoyed a broad rally Monday, after President Trump's declaration that he would not impose tariffs on imports from Mexico helped push up Treasury yields and spark a broader stock market rally. The SPDR Financial Select Sector ETF jumped 1.1%, with 63 of 67 components trading higher. Among the more heavily weighted components, shares of Goldman Sachs Group Inc. gained 2.5% to pace the Dow Jones Industrial Average's gainers, while J.P. Morgan Chase & Co.'s stock was in second with a 1.5% rise. Elsewhere, shares of Citigroup Inc. jumped 2.6% to pace the financial ETF's gainers, Bank of America Corp. hiked up 2.4% and Wells Fargo & Co. advanced 1.4%. The Dow gained 148 points, or 0.6%, and the yield on the 10-year Treasury note rose 4.5 basis points to 2.129%. Higher longer-term yields can help boost bank profits, as the spread between what banks earn on longer-term assets, such as loans, the cost of shorter-term liabilities used to fund those assets widens.
Financial stocks swung to losses in premarket trade Friday, after a big miss in the May jobs report sent Treasury yields lower, which could weigh on bank profits. The SPDR Financial Select Sector ETF fell 0.4% in premarket trade, after being up 0.3% just before the data was released. Among the ETF's most heavily weighted components, shares of J.P. Morgan Chase & Co. fell 0.7% after being up 0.3% just before the data; Bank of America Corp. swung to a loss of 1.0% after being up 0.3%; Citigroup Inc. dropped 1.1% after being up 0.3%; and Wells Fargo & Co. lost 0.7%, after gaining less than 0.1%. The yield on the 10-year Treasury note fell 3.9 basis points toward a 21-month low of 2.084%. Lower longer-term interest rates could hurt bank profits, as it could narrow the spread between what the banks make on longer-term assets, such as loans, and the costs of shorter-term liabilities. Meanwhile, futures for the Dow Jones Industrial Average inched up 4 points.
New research from Goldman Sachs suggests active managers could benefit from trading ETFs in the place of individual stocks when liquidity dries up.
As is the case with the other 11 months of the year, there are sector-level opportunities with exchange traded funds in June. Using the original nine sector SPDR ETFs (there are now 11) as the gauges, just two average positive returns in the month of June, according to CXO Advisory. In a month that historically rewards playing defensive, it's not surprising that the best-performing sector SPDR in June usually is the Utilities Select Sector SPDR (NYSE: XLU).
Prominent market technician Ralph Acampora says Wall Street needs new highs for him to be confidently bullish about the outlook for the stock markets, after a whipsawing period for the major indexes. But it’s not entirely clear that investors will see records in the immediate term.
The quarterly earnings cycle rarely leaves us much room to talk about our broad sector recommendations in our Special Opportunities portfolio -- Financial Select Sector (XLF) and US Energy ETF (IYE), notes Todd Shaver, editor of Bull Market Report.
Below is a look at ETFs that currently offer attractive buying opportunities. The ETFs included in this list are rated as buy candidates for two reasons. First, each of these funds is deemed to be in an uptrend based on the fact that its 50-day moving average is above its 200-day moving average, which are popular indicators for gauging long-term and medium-term trends, respectively. Second, each of these ETFs is also trading below its five-day moving average, thereby offering a near-term 'buy on the dip' opportunity, given the longer-term uptrend at hand. Note that this prospects list also features a liquidity screen by excluding ETFs with average trading volumes below the one million shares mark. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques. To get access to all ETFdb.com premium content, sign up for a free 14-day trial to ETFdb.com Pro.
Marsh & McLennan Companies said Thursday it will raise its quarterly dividend by 9.6%, to 45.5 cents a share from 41.5 cents. The new dividend will be payable Aug. 15 to shareholders of record on July 11. The financial services company's stock rose 1.4% in morning trade. Based on current price, the new annual dividend rate implies a dividend yield of 1.89%, which compares with the yield for the SPDR Financial Select Sector ETF of 1.94% and the implied yield for the S&P 500 of 1.99%, according to FactSet. Marsh & McLennan's stock has climbed 20.5% year to date, while the financial ETF has advanced 13.9% and the S&P 500 has gained 15.2%.
After slumping last year, the financial services is sector is on the path to redemption this year as highlighted by a year-to-date gain of nearly 13 percent for the Financial Select Sector SPDR (NYSE: ...
Bank of America Corp. said Wednesday it will raise its minimum hourly wage to $20 over a two-year period. The first incremental increase was to $17, which was made on May 1 and will be reflected in this week's paychecks. The rate will continue to increase until it reaches $20 in 2021. "We have raised our minimum wage because we believe that to best serve our customers and clients, we need the best teams," said Sheri Bronstein, chief human resources officer. The stock, which fell 1.0% in premarket trade amid a selloff in the broader stock market, has rallied 16.2% year to date through Tuesday, while the SPDR Financial Select Sector ETF has climbed 12.9% and the S&P 500 has gained 13.1%.
While the trade war dampens the economic outlook, some services-related ETFs could stand out or at least hold up much better than other sectors that rely on producing goods to turn a profit. Goldman Sachs ...
Energy Weekly: Will US Crude Oil Hold $60?(Continued from Prior Part)Energy subsector ETFsIn the week ending May 3, major energy subsector ETFs had the following performances:The VanEck Vectors Oil Services ETF (OIH) fell 5.5%.The SPDR S&P
How to Make Sense of Economic Indicators and Invest Accordingly(Continued from Prior Part)Wall Street and the economyIn developed economies like the US, the stock market and the real economy are closely linked, or at least this used to be the