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Posts Tagged ‘bank stocks’

Odd day: stocks rise on bank earnings oil falls on global growth fears

Good earnings news from big U.S. banks drove U.S. stocks higher today. As of 3 p.m. New York time, the Standard & Poor's 500 was up 1.10% and the Dow Jones Industrial Average was ahead 1.03%. The NASDAQ Composite had climbed .28% and the Russell 2000 small cap index had gained 1.17%. The iShares MSCI […]

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Looking for an above average yield? Australia’s Westpac Banking looks very attractive after today’s financial sector selling but I’d wait on a likely dividend cut this fall

Today's weakness in the financial sector on the news that online brokerage Charles Schwab (SCHW) will be cutting commissions on equity and ETF trades to 0% sent the financial sector down to a loss of 2.07% on the Financial Select Sector SPDR ETF (XLF). That drop--plus good news from Australia's housing market--would seem to open […]

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Bad news banks–in earnings reports today and yesterday

Th Federal Reserve gives and the Federal Reserve takes away. In 2018 JPMorgan Chase (JPM) reported the biggest profit in banking history--$32.5 billion--as a result of the December 2017 tax cuts and higher interest rates from the Fed. With the tax cuts now more a year in the rear-view mirror, in 2019, it's the Federal […]

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Saturday Night Quarterback says, For the week ahead expect…

... bank stocks to carry us into the heart of earnings season. And going into earnings reports for the big banks on Monday, Tuesday, and Wednesday, bank earnings look strong for the second quarter. Citigroup (C) reports first on Monday with Wall Street calling for earnings of $1.80 a share, up from $1.60 in the […]

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Treasury yield curve inverts again–key to market direction?

Adding to Monday's market sell off or maybe causing Monday's market sell off or maybe just a result of the Monday sell off, the yield curve on U.S Treasuries inverted again on May 13. The yield on the 3-month Treasury bill at 2.38% ended the day higher than the yield on the two-year Treasury note […]

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Selling Independent Bank (IBCP) out of my Dividend Portfolio

When I posted earlier today that I would keep Bank of America (BAC) in my Dividend Portfolio I said the decision rested largely on the ways that Bank of America wasn't like the "average" bank. Chief among these "ways" was the bank's ability to use its fee income--from things like its investment banking unit and […]

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2019 shaping up as a tough year for bank stocks–here’s why I’m holding Bank of America in my Dividend Portfolio

2018 was supposed to be a good year for bank stocks. Rising interest rates from the Federal Reserve would provide a positive environment for banks, bank revenues, and bank earnings. 2019 is likely to provide a negative backdrop for banks. The Fed is holding interest rates steady, the consensus on Wall Street believes, until the […]

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Bank of America earnings: Another big bank flags falling net interest income

This morning Bank of America (BAC) reported first quarter earnings of 70 cents a share, 4 cents a share above Wall Street projections. Earnings per share were up 13% from the first quarter of 2018 but flat with the fourth quarter of 2018. Revenue fell 0.4% year over year to $23 billion, slightly below the […]

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Earnings from Citigroup and Goldman Sachs tip markets lower

Today's earnings and (especially) revenue reports for the first quarter of 2019 from Citigroup (C) and Goldman Sachs (GS) say that Friday's good news from JPMorgan Chase (JPM) shouldn't be extrapolated to the entire banking sector. This morning before the New York market opened Citigroup reported earnings of $1.87 a share, 8 cents a share […]

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ING yields 5.8% and may have turned the corner on share price in the last month

I'm sure you're happy with the 5.80% forward dividend yield on ING (ING). That dividend is why the stock is a member of my Dividend Portfolio. I'm also sure that you're not happy with the loss in the stock's price--down 13.64% year to date as of today's close at $12.59. And down 13.78% since I […]

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