|Bid||0.00 x 1000|
|Ask||0.00 x 900|
|Day's Range||26.03 - 26.78|
|52 Week Range||25.02 - 30.33|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.99|
|Expense Ratio (net)||0.14%|
Nancy Tengler, Heartland Financial, and Matthew Cheslock, Virtu Financial, discuss the current state of the markets and what they like heading into the holiday season.
Banks get hammered. The financial fallout of the midterms. With Tony Dwyer, Canaccord Genuity, CNBC's Melissa Lee and the Fast Money traders, Brian Kelly, Karen Finerman and Guy Adami.
CNBC's Ylan Mui reports on the future of banking regulation with incoming House Financial Services Chair Maxine Waters.
Goldman has its worst day since 2011. Can banks bounce back? With CNBC's Robert Frank and Joe Kernen, and the Fast Money traders, Pete Najarian, Steve Grasso, Brian Kelly and Tim Seymour.
What should investors pay attention to? And what's just noise. With Jimmy Lee, Wealth Consulting Group, and Jeff Carbone, Cornerstone Financial Partners.
The "Fast Money" traders share their final trades of the day, including Sherwin-Williams, Michael Kors, the XLE energy ETF and the XFI, China's large cap ETF.
With less than a week to go until the crucial midterm election, BMO Capital Markets Chief Investment Strategist Brian Belski talks about what's in store for the markets for the balance of the year.
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Alexis Christoforous to discuss the latest market moves.
The Dow Jones Industrial Average on Wednesday finished solidly lower in a day of whipsawing action for all major indexes, buffeted by a decline in shares of financial firms, a tumble in Apple and developments tied to Britain's exit from the European Union. The Dow Jones Industrial Average closed down 205 points, or 0.8%, at 25,080, the S&P 500 index ended down 0.8% at 2,702, while the Nasdaq Composite Index closed off 0.9% at 7,136. Prime Minister Theresa May secured cabinet approval for her Brexit deal Wednesday evening, which has been a source of underlying concern for Wall Street because a disruptive exit from the EU could have negative implications for financial markets across the globe. May still has work to do to get her Brexit plan passed through Parliament. Meanwhile, a decline in shares of Apple Inc. also was in focus as the largest company by market value fell 2.8% and flirted with a descent into bear-market territory, defined as a drop of at least 20% from a recent peak. Earlier in the day, financial names dropped as Democrat Rep. Maxine Waters said she would fight back against any rollback in bank regulations. Her remarks come after the Democrats won control of the House in the midterm elections. A gauge of financial firms, the Financial Select Sector SPDR ETF, ended the session down 1.2%. Worries about trade tensions between China and the U.S. continue to run against that backdrop of concerns. In all, Wednesday's session was notable for its violent moves, with the Dow gaining as many as 214 points at the open and falling by as many as 350 points at the low. Meanwhile, crude-oil prices stabilized, halting a 12-session skid, with the downdraft in the commodity serving as a source of concern for market participants worried about signs of sluggish global growth.
Financial stocks suffered broad declines Wednesday, weighed down by falling Treasury yields and worries about liabilities related to the California wildfires. The SPDR Financial Select Sector ETF dropped 2.4%, with all 67 equity components trading lower. The biggest decliner was Progressive Corp.'s stock , which tumbled 9.3%, although the insurer reported earlier net premiums written in October rose 18% from a year ago while net premiums earned increased 20%. Shares of fellow insurer Travelers Companies Inc. dropped 3.5% to pace the Dow Jones Industrial Average's decliners. The next biggest Dow losers were shares of Goldman Sachs Group Inc. , which shed 3.0% and J.P. Morgan Chase & Co. , which fell 2.9%. Meanwhile, the yield on the 10-year Treasury note declined 4.4 basis points to 3.101%, despite a big jump in consumer inflation. Falling long-term yields could hurt bank profits, as the spread between what the bank earnings on longer-term assets and what it pays on shorter-term liabilities narrows.
The S&P 500 index was poised for a fifth straight decline on Wednesday afternoon, with a deepening slide threatening to wipe out all of the broad-market gauges gains for 2018. The S&P 500 index was recently down 1.1% at 2,692.05, and is clinging to a gain of about 0.6%, according to FactSet data. If the benchmark of large-capitalization stocks falls below 6,673.61 it would have shed all of its gains for the year. Wednesday's decline was being led by a slump in shares of financial firms, with a popular gauge of financials, the Financial Select Sector SPDR ETF , down 2.3% and technology stocks also sinking. The Technology Select Sector SPDR ETF was off 1.6%. Meanwhile, the Dow Jones Industrial Average was down 323 points, or 1.2%, at 24,966, dipping below a psychological, round-number level below 25,000, while the Nasdaq Composite Index was sinking 1.3% at 7,107.
Shares of Goldman Sachs (NYSE:GS) have been under tremendous pressure lately, and many investors are scratching their heads. Heck, even the bears are wondering what’s going on with GS stock. Bulls will point out the low valuation and stellar reputation Goldman Sachs stock carries on Wall Street.
Shares of Goldman Sachs Group Inc. extended their selloff Monday, to fall 7.3% in afternoon trade to put it on track for the lowest close since Nov. 16, 2016. The stock was also headed for the biggest one-day decline since it fell 7.4% on Nov. 9, 2011. The selloff comes after the shares shed 3.9% on Friday, after Bloomberg reported that former Goldman Chief Executive Lloyd Blankfein was the unidentified high-ranking executive referenced in U.S. court documents who attended a 2009 meeting with former Malaysian Prime Minister Najib Razak involved in the 1MDB scandal. The stock's two-day plunge of 10.9% would be the worst since it plummeted 11.4% over the two-sessions ending April 19, 2010. The stock has now shed 10.1% over the past three sessions while the SPDR Financial Select Sector ETF has lost 4.6% and the Dow Jones Industrial Average has gained 0.7%.
A good place to begin in today’s market is with a pair trade of shorting JPMorgan Chase (NYSE:JPM) and going long Morgan Stanley (NYSE:MS). Charts indicate that shorting JPM stock and going long MS stock is a good strategy now. It’s no secret that last month was not very pleasant for bullish investors in general But traders who were long financial stocks in general and JPM stock or MS stock in particular probably won’t feel sorry for those who invested in other sectors.
Stocks pause their post-election rally after the Federal Reserve announced it has kept the target range for its benchmark interest rate unchanged.
Bank of America Corp. ( BAC), which more than doubled over the three years through mid-March of this year to reach its highest level since just before nearly going under during the financial crisis, is now down almost 15% off that March high. Banking analyst Mike Mayo at Wells Fargo, who has an outperform rating on the stock and a price target of $37, told Barron’s, “I hear all the time that these are peak earnings for Bank of America. A strong investment case could be made for each of the big six as all of them are trading within a range of 8 to 11 times forward earnings compared to the S&P 500’s forward multiple of 16.4, and nonperforming assets are at relatively low levels across the banking sector.
Financials are having a volatile year, but investors should remain patient with them — and consider Financial Select Sector SPDR, one of our favorite ETFs.