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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.
6:47 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.
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.
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.
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.
11:23 p.m. Dec. 28, 2020 - By Steve Goldstein
European stocks rise after new U.S. records, with DAX also at peak European stocks rose in early action Tuesday following a record-setting day on Wall Street. The German DAX moved higher after it also closed at a record on Monday, with the U.K. FTSE 100 and French CAC 40 also gaining ground. Advancers included travel stocks such as TUI and Lufthansa , while U.K. banks including Lloyds Banking Group and Barclays fell. Futures on the Dow Jones Industrial Average rose 147 points.
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.
9:58 a.m. Nov. 25, 2020 - By Barbara Kollmeyer
Banks and oil companies weigh on FTSE 100 as investors pause ahead of U.S. holiday U.K. chancellor unveils stimulus planStocks in London fall, keeping in step with losses for global markets, with major oil companies and bank stocks leading the way lower. And U.K. Chancellor Rishi Sunak announced spending plans to help the country tackle economic fallout from the coronavirus pandemic.
9:02 a.m. Nov. 10, 2020 - By Michael Ashbaugh
Charting market rotation: S&P 500, Dow industrials challenge record highs Sector participation broadens amid market rotation, XLI, XLB, XLF, KRE, IYT, JETS, QQQTechnically speaking, the major U.S. benchmarks are off to a strong November start, rising amid expanding sector participation, writes Michael Ashbaugh.
8:22 a.m. Nov. 10, 2020 - By Michael Ashbaugh
Charting market rotation: S&P 500, Dow industrials challenge record highs Sector participation broadens amid market rotation, XLI, XLB, XLF, KRE, IYT, JETS, QQQTechnically speaking, the major U.S. benchmarks are off to a strong November start, rising amid bullish longer-term trends. Against this backdrop, the S&P 500 and Dow industrials have extended aggressive rally attempts — briefly tagging record highs to start this week — amid market rotation and expanding sector participation.
8:59 a.m. Oct. 27, 2020 - By Michael Ashbaugh
Charting market cross currents, S&P 500 violates the breakout point Focus: Retail sector tests key support, Regional banks’ breakout attempt, XRT, KRE, LOGI, DDOG, XRAY, EXPETechnically speaking, a previously tame October pullback has accelerated, inflicting damage in spots, writes Michael Ashbaugh.
8:29 a.m. Oct. 27, 2020 - By Michael Ashbaugh
Charting market cross currents, S&P 500 violates the breakout point Focus: Retail sector tests key support, Regional banks’ breakout attempt, XRT, KRE, LOGI, DDOG, XRAY, EXPETechnically speaking, a previously tame October pullback accelerated to start this week, inflicting damage in spots. Against this backdrop, the S&P 500 and Nasdaq Composite remain relatively resilient, though key technical tests are in play, and the bigger-picture technicals are not one-size-fits-all.
8:02 a.m. Oct. 26, 2020 - By Michael Ashbaugh
Market bears resurface, S&P 500 ventures under 50-day average Focus: Regional banks reclaim 200-day average, KRE, TWLO, JBLU, GES, GMEU.S. stocks are firmly lower early Monday, pressured amid heightened virus worries and in sympathy with respectable selling pressure across Europe. Against this backdrop, the S&P 500 has ventured under major support (3,428) — as well as its 50-day moving average, currently 3,408 — levels defining key bull-bear technical tests.
12:12 p.m. Sept. 28, 2020 - By Mark DeCambre
Dow books roughly 410-point gain to start the week, boosted by energy, industrials and financialsU.S. stocks closed sharply higher Monday, starting the week on a higher note as investors bought shares of banks, energy companies, as well as materials and industrials firms. Talk of some progress toward a fresh coronavirus aid package, however unlikely to gain much traction on Washington, and bargain hunting by investors betting on happier economic times in the throes of a global viral outbreak, helped to revive some degree of the bullish sentiment. The Dow Jones Industrial Average closed up 410 points, or 1.5%, at 27,583, the S&P 500 index finished the session up 1.6% at 3,352, powered by a 2.3% gain in financials and a 2.3% in the energy sector . The Nasdaq Composite Index , meanwhile, closed 1.9% higher at 11,117, retaking a psychological perch above 11,000. All closing numbers are on a preliminary basis. Shares of Citigroup and Morgan Stanley and Wells Fargo & Co. closed up 2.9% and 3.1%, and 3.5% respectively, helping to lead the charge higher for the economically sensitive banking sector, underscoring some bets for an improved economy by investors and efforts by investors to find value in beaten down sectors that have not enjoyed the run-up in stocks to the same degree as the highflying technology-related and work-from-home shares. Investors are also focused on the looming 2020 presidential election, with a debate between President Donald Trump and former Vice President Joe Biden set for Tuesday, which could also influence investment behavior in the short term. Last week, stocks took a hit amid rising concerns of a renewed spread of the novel strain of coronavirus that causes COVID-19. Markets got off to a strong start on Monday partly due to solid economic data out of China, which appeared to overshadow reports of fresh lockdowns and growing cases of COVID-19 in parts of Europe.
12:55 p.m. Sept. 25, 2020 - By Huw van Steenis
Climate change has now reached a tipping point among global investors Disruption is a powerful incentive for investors and companies to move money into sustainable industriesDisruption is a powerful incentive for investors and companies to move money into sustainable industries.
8:32 a.m. Sept. 23, 2020 - By Lina Saigol
Russia’s ‘Google’ Yandex joins super-app race with $5.5 billion offer for online bank TinkoffThe proposed deal will reshape Russia’s banking and tech sectors, and intensify competition with state-lender Sberbank.
9:03 a.m. Sept. 22, 2020 - By Lina Saigol
More European bank mergers on way says Deutsche Bank, as it prepares to shut one in five branches Deutsche Bank plans to close one in five branches in GermanyEuropean banks are looking at consolidating to boost profitability after a decade of low interest rates and rising bad debts.
1:56 a.m. Sept. 22, 2020 - By Pierre Briançon
Global banks hit by new corruption allegations. Why authorities are unlikely to act this timeThe allegations are based on leaked suspicious activity reports filed by banks and other financial firms with the U.S. Department of Treasury.
3:33 a.m. Sept. 21, 2020 - By Tomi Kilgore
Banks stocks sink after report of alleged widespread money-laundering activitiesBank stocks took a broad hit in premarket trading Monday, after alleging many major banks continued doing business with customers despite suspecting money-laundering activities. The SPDR Financial Select Sector ETF dropped 2.8% ahead of the open, underperforming the selloff in the broader stock market, as futures for the Dow Jones Industrial Average fell 528 points, or 1.9%. Among some of the financial ETF's more heavily weighted components, shares of J.P. Morgan Chase & Co. slid 4.9%, Bank of America Corp. shed 3.8%, Citigroup Inc. declined 4.4% and Well Fargo & Co. lost 3.5%.
5:19 p.m. Sept. 10, 2020 - By Rachel Koning Beals
UBS is first to make sustainable investments the preferred path for clients of its $2.6 trillion wealth management businessUBS Group, which manages $2.6 trillion in assets for some of the world’s wealthiest people, will now advise private clients to opt for sustainable investments over more traditional options when appropriate, the first major financial institution to do so.
6:19 a.m. Sept. 4, 2020 - By Barbara Kollmeyer
Merger talk drives up Spanish banks — a bright spot on a tough day for European equities CaixaBank and Bankia say they are in merger talksEuropean stocks are struggling to hold onto gains after Thursday’s selloff driven by Wall Street. Financials were a bright spot as tie-up talk in Spain’s banking sector is driving gains.
7:21 a.m. Aug. 25, 2020 - By Lina Saigol
Global dividends suffer worst quarterly fall since financial crisis The worst-case scenario could see global shareholder payouts drop 25% on an underlying basis during 2020Dividends fell in every region of the world except in North America, thanks to the resilience of Canadian companies.
12:32 p.m. Aug. 13, 2020 - By Lina Saigol
Recession-proof your portfolio with these 4 stocks, says analystThe U.K. economy has officially crashed into recession following the economic shutdown in response to the coronavirus pandemic.
8:22 a.m. Aug. 12, 2020 - By Michael Ashbaugh
Charting a second successful retest, S&P 500 maintains major support (3,328) Focus: 10-year yield’s bullish reversal, Financials and regional banks break out, TNX, XLF, KRE, FB, CARU.S. stocks are firmly higher early Wednesday, rising as rotational summer price action persists. Against this backdrop, the S&P 500 has maintained major support (3,328), rising from its second successful test over the prior three sessions.
5:41 a.m. Aug. 10, 2020 - By Steve Goldstein
Fed dismisses stress-test appeals from five banks, including Goldman SachsThe Federal Reserve on Monday said it dismissed the stress-test appeals lodged by five banks. BMO Financial , Capital One Financial , Citizens Financial , The Goldman Sachs Group , and Regions Financial each went through a reconsideration process, which involved an independent group that analyzed and evaluated the results, the Fed said. The results were checked for errors and to ensure that the stress test models worked as intended and were consistent with the board's stress test framework. The Fed also announced the capital requirements as of Oct. 1, which consist of at least 4.5% in minimum capital, a stress capital buffer of at least 2.5% and where applicable a capital surcharge for global systemically important banks of at least 1%. Total capital requirements range from 7% at several banks to as high as 13.4% at Morgan Stanley .
2:42 p.m. Aug. 3, 2020 - Associated Press
Manhattan prosecutor cites ‘extensive and protracted criminal conduct at the Trump Organization’ in defending records demand Trump’s lawyers last month said the grand-jury subpoena for the tax returns was issued in bad faith by District Attorney Cyrus Vance Jr. and amounted to harassment of the presidentTrump’s lawyers last month said the grand-jury subpoena for the tax returns was issued in bad faith by District Attorney Cyrus Vance Jr. and amounted to harassment of the president.
10:27 a.m. Aug. 1, 2020 - By Philip van Doorn
5 stocks that should thrive as the digital payments trend ramps up Gert van der Geer of Pictet Asset Management focuses on 12 long-term global trendsGert van der Geer of Pictet Asset Management focuses on 12 long-term global trends.
5:51 a.m. July 29, 2020 - By Barbara Kollmeyer
European stocks struggle amid earnings rush and as Fed decision looms Deutsche Bank, Santander, Barclays among stocks on the move European stocks tilted mostly lower on Wednesday as investors waded through a ton of corporate results, largely from big banks. A Federal Reserve decision is expected later.
5:55 a.m. July 28, 2020 - By Lina Saigol
Investors are forcing companies to strengthen their top teams amid coronavirus uncertainty, leading to record boardroom change The average tenure of outgoing lead executives was slightly less than seven yearsU.S. companies had the highest level of lead executive turnover compared with their counterparts in Europe and the U.K.
6:56 a.m. July 22, 2020 - Associated Press
Two more ex-Wirecard managers arrested, former CEO back in custody The ex-CEO was taken back into custody after the case against him expandedTwo more former executives at bankrupt German payment company Wirecard were arrested on Wednesday in the fraud scandal that brought down the one-time tech star and its former CEO was taken back into custody after the case against him was expanded, prosecutors said.
1:24 p.m. July 21, 2020 - By Mark DeCambre
Dow, S&P close higher as Covid-battered stocks surge, but off session’s best levels as tech sector sinks Gains for equities come even as gold is approaching its second-highest level in history, near $2,000 an ounceU.S. stock-indexes finish mostly higher Tuesday, but off the session’s best levels, as investors snap up beaten-down energy and financial stocks amid a slate of corporate earnings reports, including Coca-Cola and Lockheed Martin’s second-quarter results.
10:24 a.m. July 21, 2020 - By Michael Brush
You should invest in big banks now for their rich dividends These stocks look cheap, and banks perform well as economies recoverThese stocks look cheap. Plus banks perform well as economies recover.
3:54 p.m. July 20, 2020 - By Rachel Koning Beals
Morgan Stanley will be first U.S. bank to disclose how much its loans and investments contribute to greenhouse-gas emissions The investment bank will advise the Partnership for Carbon Accounting Financials on standardizationMorgan Stanley will start measuring and disclosing lending portfolio greenhouse gas emissions and back the push toward universal climate-risk accounting — the first U.S. bank to take such actions.
2:08 a.m. July 15, 2020 - By Ciara Linnane
Coronavirus update: Global cases of COVID-19 climb above 13 million as California, Hong Kong and India reimpose restrictions on movement Earnings season kicks off with bank earnings showing expected boost in loan loss provisions and strong trading and investment banking resultsThe number of confirmed cases of the coronavirus illness COVID-19 climbed above 13 million on Tuesday, and the world’s eighth biggest economy, California, moved to again temporarily shut down higher-risk businesses such as bars and restaurants after a spike in hospitalizations.
7:58 a.m. July 14, 2020 - By Lina Saigol
Schroders considers investment trust to inject equity into U.K. small and midcaps hit by the pandemic “For the U.K. economy to recover there needs to be greater availability of equity,” Schroders saysBritish fund manager is hoping to launch the investment trust in the fourth quarter of 2020.
5:51 a.m. July 9, 2020 - Associated Press
Trump tax-records ruling expected from Supreme Court on Thursday morning The high-stakes dispute tests the balance of power between the White House and Congress, as well as Trump’s claim that he can’t be investigated while he holds officeThe high-stakes dispute, which could be resolved Thursday, tests the balance of power between the White House and Congress, as well as Trump’s claim that he can’t be investigated while he holds office.
8:30 a.m. July 8, 2020 - By Barbara Kollmeyer
‘Heavy on some old classics’ budget message fails to inspire London stocks London stocks failed to get any lift from Chancellor Rishi Sunak’s budget message on Wednesday, described as disappointing by some, while banking giant HSBC PLC saw its stock fall sharply.
1:05 a.m. July 8, 2020 - By Barbara Kollmeyer
Trump administration could try to undermine Hong Kong dollar peg: reportThe U.S. Trump administration may seek to retaliate against China for a controversial new security law by targeting some Hong Kong banks for supporting it, according to a report from Bloomberg News on Wednesday. The report said some advisors to President Donald Trump have discussed the possiblity of undermining the Hong Kong dollar peg, possibly by curtailing the amount of U.S. dollars Hong Kong banks can buy. The report sent shares of HSBC Holdings PLC 3.8% lower in European trading as that bank was named as a one potential target. HSBC was widely criticized after its top regional executive, Peter Wong, publicly offered support for the new law, though say he was pressured to do so as he's a member of a top political advisory body to Beijing.
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