US bank stocks suffer longest losing streak since 2008 despite solid earnings
FROM THE WIRE · FINANCE.YAHOO.COM
US bank stocks are suffering their longest losing streak since the 2008 financial crisis, despite some of the country's biggest lenders having so far reported another sturdy set of earnings. Results from the four biggest lenders last week gave fresh evidence that their US…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe US banking sector is under pressure despite solid earnings, a theme relevant for financial indices.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The KBW Nasdaq Bank Index has lost 11% since early September in six straight weekly declines.
- 02The four biggest lenders set aside $7.6 billion in credit provisions during the quarter.
- 03Actual loan losses fell 5% while lending grew nearly 10%.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
JPMorgan Chase & Co.334.80 USD-0.35%today -1.45%Negative Bank of America Corporation50.45 USD-0.02%today -1.53%Negative Wells Fargo & Company82.26 USD+0.01%today -1.92%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets