Bulletin
Investor Alert

Topics

Banks and Banking

Video

Banking & Financial Inclusion | The Wealth Gap

  • Banking & Financial Inclusion | The Wealth Gap Banking & Financial Inclusion | The Wealth Gap 20:04
    Inside the Fed's Plan to Support Minority Workers Inside the Fed's Plan to Support Minority Workers 6:23
    J.P. Morgan's Renewable Energy Playbook J.P. Morgan's Renewable Energy Playbook 3:02
8:41 a.m. May 3, 2021 - By Chris Matthews
Yellen to name Michael Hsu acting comptroller of the currency: reportTreasury Secretary Janet Yellen plans to name a Federal Reserve bank regulator, Michael Hsu, as acting comptroller of the currency, the Wall Street Journal reported Wednesday. Hsu currently serves as associate director of the Fed's bank supervision and regulation division. Yellen will appoint him to the role of first deputy comptroller, after which he will assume the role of acting comptroller of the currency. The Office of the Comptroller of the Currency oversees federally chartered banks, including Goldman Sachs Group. Inc. and Wells Fargo & Co. .
6:58 a.m. April 29, 2021 - By Andrea Riquier
Financial-sector ETFs pop as yields jumpExchange-traded funds tracking the financial sector and banks rallied Thursday as bond yields rose. The Financial Select Sector SPDR Fund was up 1% late morning, as was the Invesco KBWB Bank ETF . The Vanguard Financials ETF gained 0.9%. On Thursday morning, the yield on the 10-year U.S. Treasury note jumped more than 5 basis points to about 1.667%, after sticking in a range around 1.6% for several weeks. Banks can be more profitable in a rising-rate environment, and since they make money from lending money at higher rates than those they pay on deposits, deeply depressed rates are more challenging for them. Investors are likely selling bonds as an improving economy makes riskier assets more attractive. Bond yields and prices move in opposite directions.
9:38 p.m. April 26, 2021 - MarketWatch
UBS takes surprise $774 million Archegos hit UBS Group AG said it lost $774 million from the implosion last month of Archegos Capital Management, a bigger hit than analysts expected, deepening the damage caused by the fund. Switzerland's biggest bank by assets said it lost the money from closing out a U.S. fund's trades. It took $434 million off net profit in the quarter, which overall was up 14% at $1.82 billion because of a surge in investment banking revenue from strong stock markets.
3:01 a.m. April 19, 2021 - By Tomi Kilgore
Sterling Bancorp to be acquired by Webster Financial in a deal valuing Sterling at more than $5 billionSterling Bancorp announced Monday an agreement to be acquired by Webster Financial Corp. in a stock deal that values Sterling at more than $5 billion. Sterling shares gained 0.7% in premarket trading while Webster shares were still inactive. Under terms of the agreement, each Sterling shareholders will receive 0.463 Webster shares for each Sterling share they own. Based on Friday's stock closing prices, that values Sterling shares at $26.56 each, an 11.5% premium. With 193.46 million shares outstanding as of Feb. 25, the deal values Sterling at $5.14 billion. After closing, which is expected to occur in the fourth quarter of 2021, Webster shareholders will own 50.4% of the combined company. The banks expect the deal to add greater than 20% to Webster's earnings and greater than 10% to Sterling's earnings, and to result in $120 million in synergies. "This combination provides exceptional financial benefits and enables us to more aggressively invest in key businesses and activities to enhance value for our customers, our communities, our shareholders and our bankers," said Webster Chief Executive John Ciulla. Sterling's stock has rallied 32.5% and Webster shares have climbed 36.1% year to date through Friday, while the SPDR Regional Banking ETF has run up 30.3% and the S&P 500 has gained 11.4%.
12:16 p.m. April 17, 2021 - By Quentin Fottrell
My parents made my sister executor of their $4 million estate, and joint owner of their bank accounts. Should I be worried? ‘We have five other siblings who are currently unaware of this arrangement’‘We have five other siblings who are currently unaware of this arrangement.’
9:58 a.m. April 15, 2021 - By Andrea Riquier
Bank ETFs tumble even as earnings come in strongExchange-traded funds tracking the banking sector fell Thursday even as big banks reported quarterly results that blew away analyst expectations. The broad Financial Select Sector SPDR Fund lost 0.5% midday Thursday, while funds more focused on banks were down more sharply: the Invesco KBW Bank ETF slid 1.7% and the First Trust Nasdaq Bank ETF was off 1.2%. Shares of JPMorgan Chase , which reported on Wednesday, were flat, but Citigroup Inc. and Well Fargo & Company both lost 0.7%.
9:00 a.m. April 15, 2021 - By Chris Matthews
Senate, House to hold hearings with major bank CEOs in late MayRep. Maxine Waters of California and Sen. Sherrod Brown of Ohio announced Thursday that the House Financial Services Committee and the Senate Banking Committee will hold hearings featuring the CEOs of the nation's largest banks, including JPMorgan Chase & Co , Bank of America Crop. , Citigroup Inc. , Wells Fargo & Co. , Goldman Sachs Group Inc. and Morgan Stanley during the final week in May. Brown, an Ohio Democrat, will be holding the Senate hearing on Wednesday, May 26 at 10 a.m. Eastern Time, while Waters, a California Democrat, will convene the House hearing on Thursday, May 27, also at 10 a.m.
4:19 p.m. March 29, 2021 - MarketWatch
Goldman, Morgan limit losses linked to ArchegosGoldman Sachs Group Inc. and Morgan Stanley were quick to move large blocks of assets before other large banks that traded with Archegos Capital Management, as the scale of the hedge fund's losses became apparent, according to people with knowledge of the transactions. The strategy helped limit the U.S. firms' losses in last week's epic stock liquidation, they said.
10:13 p.m. March 28, 2021 - MarketWatch
Credit Suisse sees hefty loss from U.S. hedge fundCredit Suisse Group AG said Monday that it could see a "highly significant" impact on its first-quarter results after a U.S.-based hedge fund defaulted on margin calls made by the Swiss bank. Credit Suisse and other banks are in the process of exiting the positions in question, the bank said. While it didn't quantify the size of the resulting loss, it said it could be significant and material to first-quarter results, notwithstanding the positive trends set out in a business-performance update earlier in March.
7:40 a.m. March 22, 2021 - By Michael Ashbaugh
Charting a jagged technical test, S&P 500 maintains support (3,915) Focus: Regional banks digest break to record territory, KRE, UNH, M, DDS, DKNGU.S. stocks are higher early Monday, rising at least partly amid easing Treasury yields. Against this backdrop, the S&P 500 has weathered a jagged retest of next support (3,915) to punctuate a mid-March downturn that has thus far inflicted limited true damage.
6:19 a.m. March 19, 2021 - By Andrea Riquier
Bank ETFs slide on surprise Fed decisionExchange-traded funds with exposure to the financial sector slipped on Friday after the Federal Reserve said it would not extend a measure of bank regulatory relief. The Invesco KWB Bank ETF was down 2.2% mid-morning, and the First Trust Nasdaq Bank ETF and the Financial Select Sector SPDR Fund each fell 1.7%. Regional-bank funds fared the same: the iShares U.S. Regional Banks ETF gave up 1.7%. The Fed's decision means that starting on April 1, big banks will have to include Treasurys in calculation of the Supplementary Leverage Ratio. An exemption to that rule was put in place in the aftermath of the coronavirus market shocks.
6:47 p.m. March 14, 2021 - By Janet Kersnar
As U.K. eases COVID-19 lockdown restrictions, Pandemic Year 2 provides equal helpings of anxiety and hope Camden, a North London hamlet home to both haves and have-nots, attempts to get back on its feet one year laterCamden, a North London hamlet home to both the haves and have-nots, attempts to get back on its feet one year later.
11:05 a.m. March 12, 2021 - By Gary Zimmerman
Retirees: Now is the time to make your money work for you Earning a higher return on investments enables retirees to do more, more often, for longerEarning a higher return on investments enables retirees to do more, more often, for longer
9:52 a.m. Feb. 25, 2021 - By Tomi Kilgore
Financial sector ETF pulls back from record despite big jump in Treasury yieldsThe financial sector suffered broad losses Thursday, as support from wasn't enough to offset the broader-market selloff. The SPDR Financial Select Sector ETF fell 1.0% in afternoon trading, to pull back from Wednesday's record close, with 56 of its 65 equity components losing ground. Meanwhile, the S&P 500 slumped 1.9%. Among the financial ETF's (XLF) more-active components, shares of Bank of America Corp. slumped 0.7%, Citigroup Inc. shed 0.8%, Wells Fargo & Co. lost 1.4% and J.P. Morgan Chase & Co. slid 0.9%. Meanwhile, the yield on 10-year Treasury note jumped 11.0 basis points toward a one-year high of 1.499%. Higher long-term yields can lead to higher bank profits, as they can increase they spread between what banks earn on longer-term assets, like loans, that are funded by shorter-term liabilities. Over the past three months, the XLF has gained 16.3%, while the 10-year Treasury yield has climbed by 62.1 basis points and the S&P 500 has gained 6.0%.
11:04 p.m. Feb. 23, 2021 - MarketWatch
Metro Bank's 2020 pretax loss widens significantlyMetro Bank PLC reported Wednesday a significantly widened pretax loss for 2020 and said it expects to book a significant credit loss linked to the coronavirus pandemic. The U.K. retail bank posted a pretax loss of 311.4 million pounds ($439.5 million), compared with a loss of GBP130.8 million for the year-earlier period.
8:26 a.m. Feb. 17, 2021 - By Michael Ashbaugh
Charting market cross currents, S&P 500 pulls in to the range Cross currents across asset classes surface amid surging Treasury yields, TNX, USO, GLD, FXY, UUP, XLF, KREU.S. stocks are lower early Wednesday, pressured as the latest economic data fuel the debate regarding potential pending inflation. Against this backdrop, each big three U.S. benchmark has reversed from Tuesday’s record high, pulling in to its former range amid largely garden-variety selling pressure.
8:14 a.m. Feb. 5, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout, S&P 500 edges to all-time high Focus: 30-year yield approaches marquee 2.0% mark, TYX, CSCO, BLDP, KEY, DDOGU.S. stocks are higher early Friday, rising despite a soft monthly U.S. jobs report. Against this backdrop, the S&P 500 and Nasdaq Composite have extended modest breakouts — tagging all-time highs — while the recently lagging Dow Jones Industrial Average vies to register its latest record close.
7:08 a.m. Feb. 4, 2021 - By Andrea Riquier
Community bank ETFs pop as economy reflatesExchange-traded funds with exposure to community banks outperformed Thursday on growing signs of inflation in the economy. The SPDR S&P Regional Banking ETF and the iShares U.S. Regional Banks ETF were up 3% at midday, while the First Trust Nasdaq Bank ETF gained 2.7%. Amid growing signs that businesses and consumers are proving resilient in the face of the coronavirus crisis, financial conditions are improving for banks. The yield on the 10-year U.S. Treasury note continued to rise, and was trading near an 11-month high on Thursday.
8:36 a.m. Feb. 2, 2021 - By Michael Ashbaugh
Charting a bullish February start: S&P 500 spikes from major support Focus: Biotechs challenge all-time highs, Regional banks sustain decisive breakout, XBI, KRE, TDOC, EXP, TOLTechnically speaking, the U.S. benchmarks are off to a strong February start, rising in the wake of the most aggressive market downturn in about three months, writes Michael Ashbaugh.
8:07 a.m. Feb. 2, 2021 - By Michael Ashbaugh
Charting a bullish February start: S&P 500 spikes from major support Focus: Biotechs challenge all-time highs, Regional banks sustain decisive breakout, XBI, KRE, TDOC, EXP, TOLTechnically speaking, the U.S. benchmarks are off to a strong February start, rising in the wake of the most aggressive market downturn in about three months. Against this backdrop, each big three benchmark has extended a reversal from major support, rallies preserving a bullish intermediate-term bias.
6:20 a.m. Feb. 2, 2021 - By Andrea Riquier
Bank ETFs jump on yield curve steepeningFinancial-sector exchange-traded funds rallied Tuesday as bond yields rose and the yield curve steepened. The Invesco KBW Bank ETF gained 2.9% mid-morning, and is up 4.1% so far this week, on track for its best week since Jan. 8. The First Trust Nasdaq Bank ETF rose 2.3%, also up 4.1% for the week to date. Banks and financial institutions make money by borrowing money at lower rates than the rates at which they lend. That's easier when there's a bigger spread, known as the yield curve, between the two. It's harder for the yield curve to get wider when yields overall are so compressed, which is why investors think higher rates benefit banks. The benchmark 10-year Treasury note climbed again Tuesday morning, up to 1.114%.
7:05 a.m. Jan. 29, 2021 - By Victor Reklaitis
White House on GameStop drama: SEC is monitoring, government is working 'how it should'White House press secretary Jen Psaki on Friday deferred to the Securities and Exchange Commission when asked by reporters about the and other heavily shorted stocks, as she said the federal government was working "how it should." Referring to how , a reporter asked what the message was to people in the U.S. and worldwide when "individual investors acting collectively against large financial institutions are shut down pretty much overnight, while the big banks and financial institutions responsible for the 2008 housing crisis got a 'get out of jail free' card." Psaki said: "The message is that the U.S. government is starting to work how it should. The SEC is a regulatory agency that oversees and monitors developments along these lines. It is currently in their purview. They've put out . We will certainly defer to them on that, and I point you to them for further questions."
6:03 p.m. Jan. 26, 2021 - Barrons.com
Banking & Financial Inclusion | The Wealth GapMarla Blow, senior vice president of social impact at Mastercard's Center for Inclusive Growth, and Brandee McHale, head of Citi Community Investing & Development and president of Citi Foundation, have a conversation about the role of banks and financial firms in promoting financial security and addressing inequities.
8:54 a.m. Jan. 12, 2021 - By Tomi Kilgore
Goldman Sachs stock surges toward a record, adds more than 60 points to the Dow's priceShares of Goldman Sachs Group Inc. surged 3.2% toward a record high, in midday trading Tuesday, as upbeat analyst comments and rising Treasury yields provide support. The stock provided the biggest boost to the Dow Jones Industrial Average , which was virtually flat even as Goldman's stock price gain of $9.28 added about 61 points to the Dow's price. BofA Securities analyst Michael Carrier reiterated his buy rating on Goldman while raising his price target to $345 from $270, saying he sees "attractive upside ahead" as investment sentiment shifts toward value from growth, and amid an improving economic backdrop. JMP Securities analyst Devin Ryan boosted Goldman's target to $320 from $285, saying he believes investors are valuing the bank on its legacy framework, despite "substantial structural shifts" to its capital/efficiency position over the past couple years and "tremendous" investments into new growth areas. Also providing a boost to Goldman's stock, the rose 3.8 basis points toward a 10-month high of 1.168%. Higher longer-term yields can help boost bank earnings, as they can increase the spread between what banks earn longer-term assets, such as loans, that are funded by shorter-term liabilities.
5:35 a.m. Jan. 12, 2021 - By Tomi Kilgore
Wells Fargo's stock surges toward 10-month high after UBS analyst upgrades to 'top pick'Shares of Wells Fargo & Co. hiked up 3.1% in morning trading Tuesday toward a 10-month high, after UBS analyst Saul Martinez said it's time to buy into the bank, citing valuation and an opportunity for the bank to "find redemption" in the eyes of many different stakeholders. Martinez raised his rating to buy from neutral and raised his stock price target to $41 from $23, saying Wells Fargo is now his "top pick" within the large-capitalization banks sector. He said despite the stock's recent relatively big bounce, it is still a "sizable multiyear underperformer" since the sales scandal in 2016. "However, the company's weaknesses could turn into investment positives," Martinez wrote in a note to clients. "In fact, even modest improvements in efficiency and slight reductions to loan loss reserves yield outsized earnings benefits." Wells Fargo's stock has run up 33.4% over the past three months while the SPDR Financial Select Sector ETF has surged 22.7% and the S&P 500 has gained 7.7%, but over the past 12 months, Wells shares have tumbled 34.7% while the financial ETF has tacked on 2.0% and the S&P 500 has advanced 16.5%. Martinez said the risk-versus-reward profile of Wells Fargo's stock appears "asymmetrically positive."
2:04 p.m. Jan. 10, 2021 - By Quentin Fottrell
My sister became my father’s power of attorney, took out a reverse mortgage, and drained his equity. What can I do? ‘She installed a camera and she moved down the street so, if visitors like myself went to his house, she would show up immediately’‘She installed a camera and she moved down the street so, if visitors like myself went to his house, she would show up immediately.’
7:54 a.m. Jan. 7, 2021 - By Michael Ashbaugh
Charting January breakouts, U.S. benchmarks tag round-number milestones Focus: Financials and regional banks take flight amid surging Treasury yields, Health care sector tags record highs, XLF, KRE, XLV, AMAT, SWKS, DXCMU.S. stocks are firmly higher early Thursday, rising to punctuate an early-week whipsaw. Against this backdrop, each big three U.S. benchmark has tagged its latest record high as well as a round-number milestone — S&P 3,800, Nasdaq 13,000 and Dow 31,000.
11:15 a.m. Jan. 5, 2021 - By Alex Mashinsky
3 steps to take in your 20s to make sure you see retirement How to reach financial independence when interest is 0% and there’s no return on bondsGetting to financial independence in a world with 0% rates and no returns on bonds
4:16 a.m. Jan. 2, 2021 - By Philip van Doorn
These are the 20 worst-performing S&P 500 stocks of 2020 — analysts see double-digit rebounds for five of them in 2021 The action is concentrated in one sectorThe action is concentrated in one sector.
10:25 a.m. Dec. 30, 2020 - By Angie O'Leary
How female entrepreneurs can thrive in good and bad times It’s important to separate business finance from personal financeIt’s important to separate business finance from personal finance
10:05 a.m. Dec. 25, 2020 - By Angie O'Leary
How female entrepreneurs can sharpen the lines between their business and personal lives — in good and bad times It’s important to separate business finance from personal financeIt’s important to separate business finance from personal finance
8:49 a.m. Dec. 21, 2020 - By Andrea Riquier
Bank ETFs jump as Fed allows buybacksExchange-traded funds linked to financial stocks were among the best performers of the session midday Monday, the first trading day after the Federal Reserve loosened restrictions on big banks to allow them to buy back some of their stock. The Financial Select Sector SPDR Fund was up 0.9%, making it the only fund tracking one of the 11 sectors of the S&P 500 in positive territory. The Invesco KBW Bank ETF was 0.7% higher, and the Vanguard Financials ETF gained 0.6%. The bank-focused funds have surged over the past month, along with bond yields and the yield curve, which measures the difference between short- and longer-dated bonds. The SPDR fund has gained 5.4% over the past month, while the Invesco fund is up 7% in that time. That compares to a 3.5% increase for the S&P 500 .
3:33 a.m. Dec. 21, 2020 - By Tomi Kilgore
Banks stocks rally to buck broader market selloff after Fed to allow share buybacks againBank stocks are showing green in sea of red in premarket trading Monday, after it will allow big banks to start buying back stock again, restrictions which were put in place in June amid concerns over the impact of the COVID-19 pandemic. The Fed said the latest stress tests confirmed that the big banks were in good financial health despite the recession. The SPDR Financial Select Sector ETF rallied 0.7% in premarket trading. Among some of the ETF's most heavily weighted banking components, shares of J.P. Morgan Chase & Co. rallied 3.6%, Bank of America Corp. got a 2.9% boost, Citigroup Inc. climbed 3.0%, Wells Fargo & Co. advanced 1.3% and Goldman Sachs Group Inc. gained 2.8%. The rallies come while futures for the Dow Jones Industrial Average tumbled 442 points, or 1.5%, amid concerns over that causes COVID-19.
7:42 a.m. Dec. 17, 2020 - By Louis D’Anella
These are the last days of small government and investors need to prepare for ‘neofiscalism’ Government is going to take a bigger role in the economy and that will affect your investment decisionsGovernment is going to take a bigger role in the economy and that will affect your investment decisions.
7:59 a.m. Dec. 14, 2020 - By Michael Ashbaugh
Charting successful technical tests: S&P 500, Nasdaq maintain the breakout point Focus: Regional banks sustain late-year breakout, KRE, TWLO, TEAM, ETSY, ON, SURFU.S. stocks are higher early Monday, rising as U.S. vaccine distribution kicks off. The early-week upturn punctuates successful tests of major support for the S&P 500 and Nasdaq Composite — the S&P 3,646 and Nasdaq 12,244 areas.
10:10 a.m. Dec. 11, 2020 - By Alex Mashinsky
3 steps anyone in their 20s can take to make sure they have a chance to see retirement How to reach financial independence in a world with 0% rates and no returns on bondsHow to reach financial independence in a world with 0% rates and no returns on bonds
11:01 p.m. Dec. 7, 2020 - MarketWatch
Goldman Sachs to acquire 100% of China ventureGoldman Sachs Group Inc. is moving to acquire 100% ownership of its securities joint venture in China, deepening its investment in the world's second-largest economy after partnering with a domestic brokerage for 17 years.
1:12 a.m. Dec. 4, 2020 - By Andrew Keshner
From jobs to child care: How this second surge in COVID-19 can damage your finances — as well as your health More people were having trouble getting enough food on the table in early November compared to five weeks earlierMore people were having trouble getting enough food on the table in early November compared to five weeks earlier.
1:03 a.m. Dec. 3, 2020 - By Margarette Burnette
Smart moves to boost your savings even with low interest rates You’re saving, so here’s what you can do to make the most of itYes, your savings may be earning smaller yields, but with a little time and attention, there are still ways to eke out growth.
8:02 a.m. Dec. 2, 2020 - By Liz Weston
Here are some easy, low-cost ways small businesses can help employees save more Technology and competition have made workplace savings plans more accessible in recent yearsMany small-business owners think workplace savings plans are too expensive or complicated to administer. But it’s not necessarily so.
Browse topics:

Filter results by

Location

Us (267)

Europe (64)

Asia Pacific (47)

Eu (44)

China (35)

Uk (23)

Issue

General (184)

Personal Finance (86)

Economy (76)

Markets/exchanges (61)

Commodities (58)

Opinion (56)

Link to MarketWatch's Slice.