|Bid||0.00 x 1000|
|Ask||0.00 x 4000|
|Day's Range||26.70 - 27.07|
|52 Week Range||23.79 - 30.33|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
Who loves the banks now? Is this a bank buying opportunity? With Carter Worth, Cornerstone Macro, CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Brian Kelly, Steve Grasso and Guy Adami.
Stocks ending the week w/ gains. Dow back above 25K for the the first time in nearly a month-- and we've got Amazon hitting another all-time high.
The story here is getting rates up, says David Ellison, Hennessy Funds portfolio manager, providing insight to bank stocks as earnings season kicks off.
Jul.12 -- Steve Sosnick, Interactive Brokers chief options strategist, discusses his options strategy with Bloomberg's Julie Hyman on "Bloomberg Markets."
Thomas Michaud of Keefe, Bruyette and Woods (KBW) president and CEO weighs in on why he expects bank earnings to be very good.
It's a stock picker's market, says David Long, Raymond James banking analyst, providing his outlook on banks ahead of earnings season.
Consensus estimates are pegged at about 57 cents per share, which represents a decrease of a nickel compared to last quarter. If BofA exceeds these estimates, it will be a welcome rebound for all three ETFs after closing in the red during Friday's trading session--IYG was down 0.73%, XLF was down 0.48% and KBWB was down 0.57%. Much of that blame can be directed towards Wells Fargo who posted losses in their second quarter earnings report, sending their shares tumbling 1.20%.
Wells Fargo & Co.'s stock (wfc) tumbled 3.8% in morning trade Friday, enough to pace the S&P 500's (spx) decliners, as the bank extended its streak of earnings disappointments to six quarters. Earlier, the bank reported earnings that missed expectations, for the third time in the past four quarters, while total revenue has now missed for six of the past seven quarters.
MARKET PULSE Wells Fargo & Co.'s (wfc) second-quarter earnings and revenue fell below expectations, but that didn't stop the bank from boosting employee salaries and commissions. The stock dropped 3% in premarket trade.
MARKET PULSE Although J.P. Morgan Chase & Co. (jpm) beat total revenue expectations for an 11th-straight quarter, consumer and community banking (CCB) was a weak spot, hurt by a decline in home lending.
Investors may have a reason to be a little cautious ahead of the bank's results, given the stock has declined on the day that the past five earnings reports were released, by an average of 2.3%, according to FactSet data. It has dropped on the day of 14 of the past 16 earnings reports, by an average of 1.7%, while the two times the stock gained was by an average of 1.2%.
Banks (XLF) have had a great run since 2016, thanks to rate hikes boosting their net interest income and diversified growth from trading and asset management income. However, credit offtake could be a major concern amid rising rates this year. Analysts are positive on banks, expecting higher interest income and revived trading and investment banking.
The banking sector is facing its deepest correction in almost three years. Ever since the 2016 election put Donald Trump in office, financial stocks have gone straight up. The tailwinds that powered financial stocks up are rapidly fading.
Though chances of a broad-based earnings beat are low in Q2 per the ESP trend, the outlook seems bright for financial ETFs, the outlook seems bright for financial ETFs.
Many have pointed to changes in long-term interest rates as a major selling point for the financial sector and related ETFs, but there is more to the picture. The financial sector has enjoyed a good run as yields on long-term debt increased, but the good times are starting to peter out as the Federal Reserve tightens its monetary policy. The Financial Select Sector SPDR (XLF) , the largest financial services-related ETF, has dipped 1.5% year-to-date while the S&P 500 rose 5.2%.
Results from the Halftime Report's quarterly stock survey, including where strategists see equities finishing the year, where they're finding value, biggest risks to the rally, and more.
Though the U.S. benchmarks have weathered an unusually jagged 2018 first-half, the market technicals have firmed with a strong third-quarter start, writes Michael Ashbaugh.
The KBW Nasdaq Bank Index (BKX) has pushed 3.2% higher in the last two sessions, nearly doubling the performance of the broader market. Financials have performed well following the Federal Reserve's stress tests in late June. Wall Street is also anticipating - optimistically, it would seem - bank earnings over the next two weeks as the sector kicks off second-quarter earnings season.
To receive further updates on this Gilead Sciences (NASDAQ:GILD) trade, sign up for a risk-free trial of Maximum Options today. XLF bounced briefly earlier this week, but it remains below all of its major moving averages.
On Tuesday's PreMarket Prep , Joel and Dennis discussed how to work out trades when the tape is moving against you ( 5:30 ). They also break down the premarket trading in PepsiCo Inc (NYSE: PEP ) after ...